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WRAP-UP To summarize what you have learned in the lesson, answer the following questions: 1. What is the cost-benefit analysis? 2. What are the procedures in conducting a cost-benefit analysis? POSTTEST Directions: Read each statement carefully. Write T if the statement is correct, otherwise write F. 1. A cost-benefit analysis should begin with compiling a comprehensive list of all the costs and benefits associated with the project or decision. 2. The cost-benefit analysis adds up the total costs of a program or activity and compares it against its total benefits. 3. A major disadvantage of cost-benefit analysis lies in forcing people to explicitly and systematically consider the various factors which should influence the strategic choice. 4. A cost-benefit analysis is a technique that compares the relative costs to the effects of two or more courses of action. 5. A cost-benefit analysis is a process that the businesses use to analyze decisions