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Which of the Following Statements Is True

question 58

Multiple Choice

Which of the following statements is true?


Definitions:

Merchandise

Goods or commodities that a business purchases or manufactures for sale to customers.

Cash Collections

The process of gathering all payments or monies received by the company from its customers against sales or services.

Planning

A phase of the management process whereby objectives are outlined and courses of action determined.

Controlling

A phase in the management process that consists of monitoring the operating results of implemented plans and comparing the actual results with the expected results.

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