Which of the following statements about Cost Management is/are TRUE? 1. It focuses on actions that management can take in the short run (and not the long run) to manage cost 2. Its aim is to minimize cost and get it to zero 3. It focuses its actions on reducing cost / increase customer value in a specific segment in the value chain and ignores the impact of such actions on the cost / customer value of the other segments in the value chain Statement 1 only Statement 2 only Statement 2 and 3 only Statement 1, 2 and 3 None of the statements are true