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- Cost Management and Pricing Decisionsaccounting-mcqs › cost-accounting-mcqs › cost-management-and-pricing-decisions
- Published
- 8 May 2023
- Last updated
- 28 May 2026
What is the method called that gathers and monitors the revenues of a business function within the value chain, assigned to each market offering from research and development through to customer support?
Multiple choice question for Cost Management and Pricing Decisions. Select an option, then review the explanation below.
Explanation
Life cycle budgeting is the process that accumulates and tracks revenues related to each business function across the value chain, from R&D to final customer service, attributing these to specific market offerings. This differs from product lifecycle, life cycle costing, and target costing, which focus on other aspects of product and cost management.
More Cost Management and Pricing Decisions MCQs
Practice related questions from the same subject.
- 1.In cost-plus pricing, what does the 'plus' represent?
- 2.Which pricing method involves adding a markup to the cost base to determine the final price?
- 3.What is the term for the method of breaking down and examining a competitor's products or operations to understand their technology?
- 4.What term describes a seller charging a higher price for the same product during periods of high demand?
- 5.What is the process called that involves a detailed analysis of the value chain to minimize expenses and enhance quality in order to satisfy customers?