Two of the Key Components of the Control Process Are

question 202

True/False

Two of the key components of the control process are setting clear performance standards and communicating results and deviations to the employees involved.

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Definitions:

Assets

Economic resources owned by a business or individual that are expected to bring future benefits or value.

Cost Method

An accounting method used to value inventory or investments, based on the historical cost paid for the asset.

Voting Stock

Voting stock refers to shares that give the shareholder the right to vote on company matters, such as electing the board of directors.

Debt Securities

Financial instruments representing a loan made by an investor to a borrower, typically including bonds, notes, and bills.