Cost management has moved from a traditional role of product costing and operational control to a broader strategic focus, which places an emphasis on:
A) Competitive pricing.
B) Domestic marketing.
C) Short-term thinking.
D) Strategic thinking.
E) Independent judgment.

Question

Quizplus · Accepted Answer

Cost management has evolved to become a more strategic function that goes beyond traditional product costing and operational control. Today, cost management plays a crucial role in helping organizations make informed decisions and achieve long-term business objectives. As such, a strategic focus that emphasizes long-term planning and decision-making is essential to effective cost management.

Cost Management Has Moved from a Traditional Role of Product