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Types of Control (Scenario)
Sam has not been receiving the information that he needs from his current control system. By the time Sam receives his reports, the activity has been completed and mistakes have already been made. Direct supervision is used extensively on the production floor now, so some activities are corrected before they become costly mistakes. But Sam would like to do better. Ideally, he would like to fix mistakes before they happen and anticipate more of the problems before they occur.
-The type of control used on the production floor is ________ control.
Compensation
Payment awarded to someone in exchange for loss, suffering, or for performed services.
Dissolution
The change in the relation of partners caused by any partner’s ceasing to be associated with the carrying on of the partnership’s business.
Board of Directors
A group of individuals elected to represent shareholders and direct the affairs of a corporation, setting its strategic direction.
Dissenting Shareholders
Shareholders who do not agree with certain corporate actions, such as mergers and acquisitions, and who may have specific rights to demand the corporation buy back their shares at a fair value.
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