Question 1:

From the seller's point of view, the life cycle costs of a product include the costs associated with initial conception through design, pre-production, production, but not post-production support of the product.

Select one: - TRUE - FALSE

Question 2:

One of the main limitations of cost-based pricing is that it reduces the time and cost of introducing new products to the market.

Select one: - TRUE - FALSE

Question 3:

Target costing takes a passive approach that treats costs as the result of design, procurement, and manufacturing.

Select one: - TRUE - FALSE