Cost Management Objectives
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Questions and Answers

Which of the following is one of the objectives of cost management?

  • Translating the strategy into operational parameters (correct)
  • Communicating the strategy to customers
  • Developing new products
  • Measuring the achievement of sales targets

    • What is one of the ways cost management supports the company's strategic objectives?

  • By increasing the company's revenue
  • By communicating the strategy to the company's employees (correct)
  • By reducing the company's workforce
  • By developing new marketing campaigns

    • What is the role of sound decision-making principles in cost management?

  • To reduce the company's operational costs
  • To evaluate the company's competitors
  • To increase the company's profit margin
  • To rationalize the company's strategic objectives (correct)

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