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What is the primary focus of cost control in budgeting?
What is the primary focus of cost control in budgeting?
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What is the primary focus of cost control in budgeting?
Maximizing revenue
Minimizing expenses
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Cost control primarily focuses on minimizing expenses to ensure that the organization operates within its budget.
Questions & Step-by-step Solutions
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Q: What is the primary focus of cost control in budgeting?
Solution:
Cost control primarily focuses on minimizing expenses to ensure that the organization operates within its budget.
Steps: 5
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Step 1: Understand what budgeting means. Budgeting is planning how much money an organization will spend and earn.
Step 2: Learn about cost control. Cost control is the process of managing and reducing expenses.
Step 3: Identify the goal of cost control. The main goal is to keep expenses low.
Step 4: Connect cost control to budgeting. Cost control helps ensure that spending does not exceed the budget.
Step 5: Conclude that the primary focus of cost control in budgeting is to minimize expenses.
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