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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
Study Notes
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Description
Test your knowledge on cost control with this quiz! Learn about the strategies and techniques used by finance professionals to reduce project costs and increase profit. Challenge yourself with questions on budget planning, cost performance analysis, and project management. Master the skills needed to improve a business's financial performance with this informative quiz.
