If profit is visible in an enterprise but maintenance and repair costs are not included which life skill is incomplete?
Answer and explanation
Correct answer: Real total cost analysis
The correct answer is real total cost analysis. Enterprise costs include indirect expenses such as maintenance and repairs along with raw materials and labour. If these are omitted, the profit may appear higher than it actually is. Customer communication and product presentation are useful skills, but they do not correct an incomplete cost calculation. Exam tip: include fixed, variable, maintenance and repair expenses while estimating total cost and profit.
Frequently asked questions
What is the correct answer to this question?
Real total cost analysis
Why is this the correct answer?
The correct answer is real total cost analysis. Enterprise costs include indirect expenses such as maintenance and repairs along with raw materials and labour. If these are omitted, the profit may appear higher than it actually is. Customer communication and product presentation are useful skills, but they do not correct an incomplete cost calculation. Exam tip: include fixed, variable, maintenance and repair expenses while estimating total cost and profit.
Which subject and chapter does this question cover?
This is a Class 11 Home Science question. Chapter: Work, Livelihood and Career. Topic: Life skills for livelihood.
