Economy, asked by johnbrown772, 9 months ago

Discuss the best single tool for cost control

Answers

Answered by chauhanmaya53

Answer:

Ratio analysis is used as an instrument of cost control in two ways: (i) Ratios can be used to compare the performance of a business firm between two periods. It helps to identify areas which need immediate attention. (ii) Besides, standard ratios are used to compare actual areas.

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