Which of the Following Describes the 'Performance Function' of Corporate

question 12

Short Answer

Which of the following describes the 'performance function' of corporate governance
A.To ensure corporate conformance to the stated mission and strategy
B.To monitor whether the organization is undertaking the activities as promised, and whether the performance is satisfactory
C.To shape, articulate and communicate the fundamental principles that will drive the organizations activities
D.To judge the strategy initiatives brought forward by top management and/or, actively participate in strategy development.

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Definitions:

FIFO Method

An inventory valuation method that assumes the first items placed in inventory are the first sold, standing for "First In, First Out."

Periodic Inventory System

A system where inventory levels and the cost of goods sold are determined at the end of the accounting period through physical inventory counts.

Credit Memo

A document issued by a seller to a buyer, reducing the amount the buyer owes to the seller under previous transactions.