Two Qualities of an Effective Control System Include

question 3

Multiple Choice

Two qualities of an effective control system include

• A) speed and quality
• B) flexibility and corrective action
• C) quality of employees' performance
• D) evaluation and standards

Calculate and interpret financial ratios related to liquidity and profitability.

Understand the influence of inventory management systems on financial ratios.

Differentiate between various expense categories in accounting.

Comprehend the procedures for closing accounts at the end of an accounting period.

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Definitions:

Extinction

In behavioral psychology, the process through which a learned response is diminished or diminishes over time following the removal of reinforcement.

Extinction

In behavioral psychology, the gradual weakening and eventual disappearance of a conditioned response when the conditioned stimulus is no longer paired with the unconditioned stimulus.

Non-associative Learning

A form of learning in which an organism becomes more (or less) responsive to a repeated stimulus over time, without the need for association between different stimuli.

Cognitive Model

A framework used in cognitive psychology and cognitive therapy that describes how thoughts, feelings, and behaviors interact and influence mental health and behavior.