Price standards are the responsibility of
A)accounting.
B)purchasing.
C)personnel.
D)all of these.

Question

Quizplus · Accepted Answer

Price standards, which are benchmarks or norms for the cost of goods and services, involve collaboration across various departments within an organization. Accounting is responsible for recording and analyzing costs, purchasing negotiates and acquires goods and services at optimal prices, and personnel may be involved in setting standards for labor costs. Therefore, establishing price standards is a cross-functional responsibility that involves all of these departments.

Price Standards Are the Responsibility of