Discussion
_________________ is used as an evaluation tool for managerial decisions
Answer: B
CVP (cost-volume-profit) analysis is the evaluation tool for managerial decisions. It studies how cost and profit respond to changes in volume, which helps in decisions about pricing, product mix, the break-even point and the level of activity needed for a target profit. Job costing, contract costing and process costing are methods of ascertaining cost for different types of production, not tools for evaluating decisions.
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