A Management Control System Must to Achieve Maximum Benefits at Minimum

question 133

Multiple Choice

A management control system must to achieve maximum benefits at minimum cost.

• A) be the same as the financial accounting system
• B) foster goal congruence and managerial effort
• C) look at the short term only
• D) motivate managers with quarterly bonuses based on performance

Identify the factors that contribute to the law of increasing costs.

Comprehend the concept of opportunity cost and its critical role in economic choices.

Analyze the implications of moving along the production possibilities curve and understanding increasing opportunity costs.

Understand the effects of economic conditions on the production possibilities frontier and unemployment rates.

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Definitions:

Obtunded

Describes a state of reduced alertness or consciousness, often characterized by a decreased response to external stimuli.

Stuporous

A state of reduced consciousness or awareness, where the person is unresponsive to stimuli to a great extent.

Semi-Coma

A state of consciousness that is between a coma and full consciousness, where the patient is partly responsive to external stimuli.

Manic Syndrome

A mental health condition marked by periods of great excitement, euphoria, delusions, and overactivity.