To Be Effective,control Systems Must

question 2

Multiple Choice

To be effective,control systems must:

• A) keep performance standards flexible and easy.
• B) focus on one-way top-down communication.
• C) be acceptable to all stockholders.
• D) use multiple control approaches.
• E) centralize decision making.

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Definitions:

Independent Appraiser

A certified professional who provides an unbiased opinion on the value of an asset, often used in real estate transactions, without any direct connection to the buyer or seller.

Journal Entry

A record in accounting that represents each transaction with debits and credits in financial accounts.

Plant Assets

Long-term tangible assets that are used in the production of goods or services and are not intended for resale, including buildings, machinery, and equipment.

Double-Declining Balance

An accelerated method of depreciation where an asset loses value at double the rate of traditional straight-line depreciation.