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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.


Definitions:

Gains and Losses

Financial terms referring to the positive or negative changes in value of investments or assets relative to their original purchase price.

Liquidation Gain/Loss

The financial result realized when the assets of a company are sold off or liquidated.

Liquidating

The process of converting a company's assets into cash and distributing it to the debt holders and shareholders during the winding up of the company.

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