Which of the Following Is True of Feedforward Control

question 131

Multiple Choice

Which of the following is true of feedforward control?

• A) It focuses on what happens during the work process.
• B) It is preventive in nature.
• C) It is largely reactive.
• D) It solves problems as they occur.
• E) It focuses on the quality of end results rather than on inputs.

Differentiate between prepaid expenses, accrued expenses, unearned revenues, and accrued revenues.

Calculate depreciation and understand its impact on financial statements.

Comprehend the importance of matching expenses with revenues in the correct accounting period.

Understand the purpose and process of adjusting entries in the accounting cycle.

---

Definitions:

Internal Control

Processes and procedures implemented by a company to safeguard its assets, enhance the reliability of its accounting records, promote efficient operations, and ensure compliance with laws and regulations.

Physical Count

A physical count involves manually counting the actual inventory to verify accuracy against inventory records, often used for audit purposes or to correct discrepancies.

Physical Count

The process of manually counting and verifying the quantities of inventory on hand at a specific point in time.

Inventory Records

Documentation that tracks the quantities, locations, and statuses of products a company has in stock.