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Identify the five steps in the control process.
Unused Capacity
Represents the difference between a company's actual production levels and its maximum potential output, indicating resources that are not being fully utilized.
Opportunity Cost
The cost of forgoing the next best alternative when making a decision.
Differential Profit
The difference in profit from one business alternative compared to another, used to make decisions between various options.
Alternative Use
The potential for a resource or asset to be used in a different manner or for another purpose to generate value.
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