What is planning? What is cost price?

Question

Accepted Answer

Planning is the process of setting goals and determining the best way to achieve them. Cost price is the amount it costs to produce a product or service.

Planning involves identifying objectives, creating a strategy, and allocating resources.
Cost price includes all expenses incurred in producing a product or service, such as materials, labor, and overhead costs.
Effective planning and cost management are essential for business success.
For example, a company may plan to increase sales by launching a new product, and must consider the cost price to ensure profitability.
Another example is a construction project, where planning involves scheduling tasks and estimating costs for labor and materials.

Accepted Answer

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Accepted Answer

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What is planning? What is cost price?

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