Question
Economics Question on Business and Economy
Given below are two statements:
Statement I: Cost control aims at maintaining the cost in accordance with the established targets or standards.
Statement II: Cost reduction is directed to explore the possibilities of improving the targets or standards themselves.
In the light of the above statements, choose the correct answer from the options given below
A
Both Statement I and Statement II are true
B
Both Statement I and Statement II are false
C
Statement I is true but Statement II is false
D
Statement I is false but Statement II is true
Answer
Both Statement I and Statement II are true
Explanation
Solution
The correct option is (A):Both Statement I and Statement II are true