________ Control Focuses on the Use of Information About Results

question 115

Multiple Choice

________ control focuses on the use of information about results to correct deviations from the acceptable standard after they arise.

• A) Reactionary
• B) Concurrent
• C) Corrective
• D) Outback
• E) Feedback

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Definitions:

Perpetual Inventory System

An inventory tracking system that updates item balances after each purchase or sale, providing a continuous record of inventory.

Merchandise Inventory

Products that a business has in stock and intends to sell to its customers as part of its commercial operations.

Inventory Shrinkage

The loss of products between point of manufacture or purchase from supplier and point of sale, often due to theft, damage, or errors.

Physical Count

The process of manually counting the actual inventory on hand to verify stock levels and account for discrepancies.