The act of making necessary adjustment after comparing the actual cost with targeted cost is cost ----------------------------
Question 1 Report
The act of making necessary adjustment after comparing the actual cost with targeted cost is cost ----------------------------
Answer Details
The act of making necessary adjustments after comparing the actual cost with the targeted cost is cost control.
Cost control refers to the process of managing and regulating costs incurred by an organization or a project. It involves comparing the actual costs incurred to the budgeted or targeted costs and making necessary adjustments to bring the costs back in line with the budget.
The main goal of cost control is to ensure that an organization or project does not exceed its budget and to maximize its efficiency and profitability. Effective cost control involves monitoring costs regularly, identifying areas where cost savings can be made, and implementing cost-saving measures.
Download The App On Google Playstore
Everything you need to excel in your exams
Personalized AI Learning Chat Assistant
200,000+ Exam Questions Across IGCSE, JAMB, WAEC & NECO
Over 3,900 Lesson Notes
Offline Support - Learn Anytime, Anywhere
Green Bridge Timetable
Literature Summaries & Potential Questions
Track Your Performance & Progress
In-depth Explanations for Comprehensive Learning