COST ACCOUNTING
BREAK EVEN POINT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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‘Business costs are not the only factor which determines the success of a business’.
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TRUE
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FALSE
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BOTH
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NOT SURE
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Explanation:
Detailed explanation-1: -Perseverance. This is possibly the most important of success factors. Every new start-up business that I have ever come across finds it hard at first, and after that it gets even harder. The founders are normally tested to the limits of what they can bear and usually well beyond.
Detailed explanation-2: -Profits may be the most popular metric of measuring the success of a business venture but it is by no means the only (or the best) method for measuring success. Most start-ups are not profitable at the beginning of operation and many are not profitable for years.
Detailed explanation-3: -The five critical success factors are strategic focus, people, operations, marketing, and finances.
There is 1 question to complete.