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Dear sir,
1.”It provides the true financial cost of a product”. Could you explain how this is an advantage of LCC? I am actually a bit confuse because of the word “true”. Does true mean “accurate” in this context?Yes, it means accurate (although it is a bit of a meaningless statement because other ways of costing could also claim to be accurate 🙂 I hope it is not one of my statements 🙂 )
Dear sir,
Could you briefly explain what is meant by:
“Traditional capital budgeting techniques do not attempt to minimise the costs or maximise the revenues over the product life cycle”
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