1. Fixed costs are costs that in total remain constant within the relevant range as the level of output increases or decreases.

   True

   False

1. Qualitative data may be exemplified by product cost and net income, not customer satisfaction.

   True

   False

1. Planning involves the development of both short-term and long-term objectives and goals.

   True

   False

1. External forces are more important in shaping a companys corporate governance system than internal forces.

   True

   False

1. Cost information does not influence marketing, finance, or production managers decisions.

   True

   False

1. Manufacturing and service firms producing unique products or services require job-order accounting systems.

   True

   False

1. A life cycle costing system includes all costs incurred throughout a product's life, not just in manufacturing and selling of the product.

   True

   False