AACE CCT Practice Questions - AACE Certified Cost Technician Exam

According to AACE, which definition BEST describes cost engineering?

The mechanical design of cost-effective machinery The area of engineering practice that applies scientific principles and techniques to problems of cost estimation, cost control, business planning, profitability analysis, and project management The accounting function that records financial transactions The procurement function that negotiates contracts

Correct Answer:

The area of engineering practice that applies scientific principles and techniques to problems of cost estimation, cost control, business planning, profitability analysis, and project management

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