Controlling Is the Managerial Task That Involves

question 79

Multiple Choice

Controlling is the managerial task that involves

• A)deciding what organizational goals to pursue.
• B)obtaining customers by producing goods and services more cheaply than any competitor.
• C)taking any corrective actions needed to maintain or improve performance.
• D)using personality to establish equilibrium in the workplace.
• E)motivating people to perform at a high level.

---

Definitions:

Inventory Costing Methods

Techniques used to determine the cost of inventory sold and remaining in stock, including FIFO, LIFO, and average cost methods.

Periodic Inventory System

An inventory accounting system where updates to the inventory accounts are made periodically, typically at the end of an accounting period, rather than continuously.

Physical Inventory

A detailed listing of merchandise on hand.

Perpetual Inventory System

An accounting method that records the sale or purchase of inventory immediately through the use of computerized point-of-sale systems and enterprise asset management software.