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Why is estimating costs necessary for an entrepreneur?

Answer and explanation

Correct answer: आवश्यक धन और संभावित लाभ का आकलन करने के लिए

Cost estimation helps an entrepreneur calculate how much money is needed to start and operate the business. By comparing expected costs with expected sales revenue, the entrepreneur can estimate possible profit or loss, prepare a budget, and decide whether the idea is financially practical. Choosing colours does not address financial planning, while hiding customers or eliminating competition is unrelated to cost estimation.

Related tags

Cost-EstimationProfitBusiness-PlanningIntroduction To EntrepreneurshipEntrepreneurial Skills IArtificial IntelligenceClass 9 Mcq

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