Methods of Cost Control

1. Which of the following is NOT a primary method of cost control in financial management?

2. What is a budget primarily used for in cost control?

3. Standard costing compares _ to

4. Variance analysis helps identify:

5. What is a key benefit of effective cost control?

6. Which method involves setting predetermined costs for specific activities?

7. What does a favorable variance indicate?

8. A flexible budget adjusts to:

9. What is a crucial element for successful cost control?

10. Which of these is a preventative cost control measure?

Test

1. Which of the following is NOT a primary method of cost control in financial management?

2. What is a budget primarily used for in cost control?

3. Standard costing compares _ to

4. Variance analysis helps identify:

5. What is a key benefit of effective cost control?

6. Which method involves setting predetermined costs for specific activities?

7. What does a favorable variance indicate?

8. A flexible budget adjusts to:

9. What is a crucial element for successful cost control?

10. Which of these is a preventative cost control measure?

Test

1. Which of the following is NOT a primary method of cost control in financial management?

2. What is a budget primarily used for in cost control?

3. Standard costing compares _______________ to ______________

4. Variance analysis helps identify:

5. What is a key benefit of effective cost control?

6. Which method involves setting predetermined costs for specific activities?

7. What does a favorable variance indicate?

8. A flexible budget adjusts to:

9. What is a crucial element for successful cost control?

10. Which of these is a preventative cost control measure?

3. Standard costing compares _ to