Answer:
a) Accumulating and then assigning costs
Explanation:
A cost system is a system put in place by management to monitor costs incurred by an entity or cost object. A cost system is a combination of related subsystems which monitors, control and report costs information. In determining the cost of an object a cost system accumulates costs before assigning to cost units.
Answer: Determine the cash flows that are most apt to occur given a set of circumstances.
Explanation:
To make a decision on a project to be implemented one must engage in the most apt of financial analysis because predicting the future is no easy task but one must try to get the most accurate of figures when trying to make a decision to enable a smooth implementation of the project.
One should also remember that there are different scenarios that may occur with a project and it is imperative that all those scenarios are researched and assigned the most apt of figures to ensure for instance, that should that scenario happen, plans can be made to fully utilize whatever opportunities it presents.
