Which of the Following Is NOT One of the Three

question 63

Multiple Choice

Which of the following is NOT one of the three types of control systems?

• A) Concurrent
• B) Feedforward
• C) Conclusive
• D) Feedback

Recognize the significance of accounts payable period in managing cash flows.

Explain the concept of the operating cycle and its components.

Apply knowledge of short-term financial policies to real-world scenarios.

Formulate strategies to manage working capital effectively.

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Definitions:

Statute of Frauds

A legal concept that requires certain types of contracts to be in writing and signed by the parties involved to be enforceable.

Orally Agree

To come to a mutual decision or arrangement through spoken words rather than written documents.

Contract Rescission

The legal act of canceling a contract and returning the parties involved to their positions before the contract was signed.

Mistake Of Value

A legal concept referring to an error made by one or both parties at the time of contract formation, concerning the value of the goods or services to be exchanged.