Business Finance
ACC 350 Cost Accounting

Question Description

I need an explanation for this Accounting question to help me study.

Is It Important?"  Please respond to the following:

  • Assess the importance of causality in estimating cost functions/relationships

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Final Answer

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A cost function is basically a estimation of alteration of level of activity related to that particular cost.

With the aid of casualty, during estimation of cost functions, it is easier to determine the highest and the lowest  observation of the cost driver . It also ensures effectiveness and easier compability of criterias used in estimation. Thus answering the question, casualty is important in the estimation of cost functions and relationships.

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FayHawking (181)
New York University

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