The Concept That Says Managers Should Be Evaluated on the Basis

question 33

Multiple Choice

The concept that says managers should be evaluated on the basis of revenues and/or expenses they can control is known as the:

• A) Management by exception concept.
• B) Controllability concept.
• C) Responsibility concept.
• D) None of these.

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Definitions:

Negotiable Instrument

A written document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the payee’s name on it.

Negotiate

The process of discussing something with another party to reach a mutually agreeable decision or deal.

Nonnegotiable

Refers to instruments or documents that cannot be transferred or assigned from one party to another by endorsement or delivery, limiting their exchangeability.

Additional Terms

Supplementary conditions or provisions added to a contract that were not mentioned in the original agreement but are negotiated before finalization.