Economics · Cost Accounting - Cost Control vs Cost Reduction
Which among the following statements is FALSE about cost reduction?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1It is a preventive function where costs are controlled before they are incurred.✓
- 2It involves a fully dynamic approach.
- 3It is universally applicable to all areas of business.
- 4It represents a permanent, real, and genuine reduction in cost.
Correct answer
It is a preventive function where costs are controlled before they are incurred.
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