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Questions and Answers
What is the goal of cost control methods?
What is the goal of cost control methods?
- To decrease a project's financial performance while decreasing costs
- To increase a project's financial performance while increasing costs
- To decrease a project's financial performance while increasing costs
- To increase a project's financial performance while decreasing costs (correct)
Why is using cost control methods important for businesses?
Why is using cost control methods important for businesses?
- It decreases the profitability of the project
- It increases the cost of the project
- It allows for businesses to overspend on projects
- It allows for businesses to maintain a strict budget (correct)
What do finance professionals do in cost control?
What do finance professionals do in cost control?
- They oversee the completion of a project
- They analyze a business's overall expenses and reduce project costs to increase profit (correct)
- They set unrealistic budgets for a project
- They ignore the financial performance of a project
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