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What is the primary objective of cost control?
What is the primary objective of cost control?
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Practice Questions
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Q1
What is the primary objective of cost control?
Maximizing revenue
Minimizing costs
Ensuring product quality
Increasing market share
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Cost control aims to minimize costs while maintaining the desired level of output.
Questions & Step-by-step Solutions
1 item
Q
Q: What is the primary objective of cost control?
Solution:
Cost control aims to minimize costs while maintaining the desired level of output.
Steps: 4
Show Steps
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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