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Questions and Answers
Which of the following is one of the objectives of cost management?
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?
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?
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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