The First Step to the Control Process Is to _____

question 33

Multiple Choice

The first step to the control process is to _____.

• A) measure actual performance
• B) compare results with objectives
• C) establish performance objectives and standards
• D) take corrective actions
• E) compare results with standards

---

Definitions:

Accounts Receivable Turnover

A financial ratio that measures how often a company collects its average accounts receivable balance during a period.

Days' Sales Uncollected

A measure of the average number of days it takes a company to collect payment after a sale has been made.

Inventory Turnover

Measures how often a company sells and replaces its stock of goods within a period, reflecting inventory management efficiency.

Times Interest Earned Ratio

A financial metric assessing a company's ability to meet its debt obligations, calculated as earnings before interest and taxes divided by interest expense.