The success of every organization depends upon the cost of the product they produce If the cost of the product is significantly lower than the market price then the enterprise is in the capacity to make a profit or grab additional the market by lowering the price Hence, it becomes very important to keep proper control over the cost of the product Answer and Explanation Following are the features of the good costing policy Easy to understand Accurate Makes the waste and nonvalue added activities more visible Supports performance

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There are numerous aspects that contribute to a companys success These elements can be successfully summarized using the Four Ps of marketing which we... View the full answer