Which of the following statement is incorrect regarding Modern Techniques of controlling ?

PERT and CPM are used to do costing.

The correct answer is option (3) : PERT and CPM are used to do costing.

The incorrect statement regarding modern techniques of controlling is:

• PERT and CPM are used to do costing.

- PERT (Program Evaluation and Review Technique) and CPM (Critical Path Method) are project management techniques used for planning and scheduling, not for costing. They are used to manage and analyze the sequence of activities and tasks in a project to ensure it is completed on time. These techniques help in identifying the critical path and managing project timelines and resources efficiently.

The other statements are correct:

Return on investment is a financial measure used to assess the effectiveness of capital investment in generating returns.

Ratio analysis is a method for analyzing financial statements to assess a company's financial performance and health.

Management Audit is a systematic appraisal of the overall performance of the management to evaluate how effectively an organization is being managed.