The Purpose of Control Is to Identify Deviations from Goals

question 83

Multiple Choice

The purpose of control is to identify deviations from goals as soon as possible in order to take corrective action.Tracking sales,inventory levels,orders,and customer support are examples of control activities.What type of company data is most important at this level?

• A)Internal data
• B)External data
• C)Vendor data
• D)Administrative data

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Definitions:

Technology Spillover

Occurs when technological advances or innovations benefit other sectors or industries, beyond the original intention.

Negative Externality

A cost that affects a party who did not choose to incur that cost, often associated with environmental, health, and social issues.

Government Subsidized

A financial contribution provided by the government to support industries, businesses, or individuals, often aimed at achieving economic or social objectives.

Negative Externalities

Costs suffered by a third party due to an economic transaction that they were not directly involved in, often leading to market failure.