The Managers at a Theme Park Are Comparing the Number

question 52

Multiple Choice

The managers at a theme park are comparing the number of annual passes they sold last year with the number of annual passes sold by other high-performing parks. This is an example of

• A)concurrent control.
• B)management by objectives.
• C)feedback control.
• D)benchmarking.
• E)financial performance measurement.

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Definitions:

Debits And Credits

Debits and Credits are accounting entries used to record transactions in the company’s books, where debits increase asset or expense accounts and decrease liability, equity, or revenue accounts; credits do the opposite.

Ledger

A comprehensive collection of a company's financial accounts, transactions, and balances, organized within a book or computer system, serving as the principal component of the double-entry bookkeeping system.

Journalizing

The process of recording financial transactions in the journal as part of the accounting cycle.

Transaction

An economic event or condition that directly changes an entity's financial condition or its results of operations.