19.

Which of the following statements about pricing is/are true: 1. Value engineering is generally more important for organisations that adopt cost-plus pricing compared to those that adopt target pricing. 2. The choice of allocation base(s) for indirect costs incurred is more important to an organisation's long-term pricing decision if it adopts cost-plus pricing compared to if it adopts target pricing. 3. An organisation's long-term price for its products or services is usually lower than its short-term price. Statement 1 only Statement 2 only Statement 3 only Statement 1 and 2 only None of the above