When estimating linear cost functions, it is assumed that variations in total cost of a cost object cannot be explained by variations in a single cost driver.

True or False

When estimating a cost function, cost behavior can be approximated by a linear cost function within the relevant range.

True or False

A mixed cost has a fixed element.

True or False

The selection of the best measure of benefit will depend upon the corresponding change in the cost pool.

True or False

The account analysis method estimates cost functions by classifying various cost accounts as variable, fixed, or mixed with respect to the identified level of activity.

True or False

The advantage of the highlow method when compared to regression analysis is that it considers multiple data points.

True or False