Question : Assertion: A control chart is a tool used to measure financial performance.
Reason: Control charts are graphical representations used to monitor and control processes.
Option 1: Both assertion and reason are true, and the reason correctly explains the assertion.
Option 2: Both assertion and reason are true, but the reason does not correctly explain the assertion.
Option 3: The assertion is true, but the reason is false.
Option 4: The assertion is false, but the reason is true.
Correct Answer: The assertion is false, but the reason is true.
Solution : The correct answer is (d) The assertion is false, but the reason is true.
This assertion is false. Control charts are not used to measure financial performance. Control charts are primarily used in quality control and process monitoring to track and control variations in processes. They are not designed for financial performance measurement.
This reason is true. Control charts are indeed graphical tools used to monitor and control various processes by displaying data points in a graphical format, typically with upper and lower control limits to identify variations in the process.
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