The Key to Effective Cost Control Is to Analyse Cost

question 69

True/False

The key to effective cost control is to analyse cost performance on a regular and timely basis.

---

Definitions:

Social Regulations

Rules imposed by government to regulate the impact of business activities on public health, safety, the environment, and social welfare.

Rational Basis Review

A legal standard used by courts to evaluate the constitutionality of a statute or ordinance, where the government only needs to show that the law is rationally related to a legitimate government interest.

Equal Protection

The constitutional guarantee that no person or group will be denied the same protection of the laws that is enjoyed by other similarly situated individuals.

Taxing Power

The legal authority granted to governmental entities to impose taxes on individuals and organizations to raise revenue for public purposes.