Question

The transfer price which uses a variety of cost concepts is the: negotiated price approach standard cost approach cost price approach market price approach

Answer 1

The transfer price which uses a variety of cost concepts is the cost price approach.

The cost price approach is typically used in real estate. When using this approach a person is seeing what the price of something a person should pay by comparing it with what it would cost to build. This helps determine the value in the eye of the customer. A transfer price is coming to terms with the amount you are going to pay for a good or service.