Control That Focuses on the Use of Information About Previous

question 40

Multiple Choice

Control that focuses on the use of information about previous results to correct deviations from the acceptable standard is referred to as ________ control.

• A)feedforward
• B)preliminary
• C)feedback
• D)audit
• E)performance

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Definitions:

Lease Term

The duration for which a lease agreement is effective, specifying the start and end dates.

Modified Accelerated Cost Recovery System

A tax depreciation system in the United States that allows for faster asset depreciation in the early years of asset life.

Straight-Line Depreciation

A method of allocating the cost of a tangible asset evenly over its useful life, used for accounting and tax purposes.

Double Declining-Balance Depreciation

A method of accelerated depreciation which doubles the rate at which an asset’s book value depreciates compared to straight-line depreciation.