Control That Takes Place While an Activity Is in Progress

question 19

Multiple Choice

Control that takes place while an activity is in progress is known as which of the following?

• A)concurrent control
• B)management control
• C)feedforward control
• D)feedback control

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Definitions:

Cost Control

The practice of identifying and reducing business expenses to increase profits, involving the analysis and management of cost elements.

Standard Costs

The planned cost of manufacturing a product, which includes material, labor, and overhead costs, used for budgeting and performance evaluation.

Accounting System

A structured process used to record, track, and manage financial transactions and the financial position of an entity.

Standards

Preset criteria or benchmarks used to measure, compare, or judge quality, performance, or compliance.