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What is the primary objective of cost control?

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Question: What is the primary objective of cost control?

Options:

  1. Maximizing revenue
  2. Minimizing costs
  3. Ensuring product quality
  4. Increasing market share

Correct Answer: Minimizing costs

Solution: 

Cost control aims to minimize costs while maintaining the desired level of output.

What is the primary objective of cost control?

Practice Questions

Q1
What is the primary objective of cost control?
  1. Maximizing revenue
  2. Minimizing costs
  3. Ensuring product quality
  4. Increasing market share

Questions & Step-by-Step Solutions

What is the primary objective of cost control?
  • Step 1: Understand that cost control is about managing expenses.
  • Step 2: Recognize that the goal is to keep costs as low as possible.
  • Step 3: Learn that this should be done while still producing the same amount of goods or services.
  • Step 4: Realize that effective cost control helps businesses save money and improve profits.
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