CIPS L5M7 Question Answer
Open-Book Costingrelies on which of the following? Select TWO.
Finding the lowest cost
Splitting profit 50:50
Good communication
Transparency of costs and justifications
Open-Book Costingfosterstrust and collaborationby ensuring both parties share detailed cost data and maintain open, transparent communication.
Short cited extract: “Open-book costing requires transparency and communication between partners.” (L5M7 Study Guide, p.193)
TESTED 31 Oct 2025
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