Which of the Following Is the First Step in the Process

question 92

Multiple Choice

Which of the following is the first step in the process of controlling?

• A) Monitoring actual performance against set targets
• B) Establishing performance standards
• C) Estimating the fund required for efficient productivity
• D) Providing feedback based on performance

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Definitions:

Bankruptcy

A legal process for businesses or individuals unable to repay their outstanding debts, providing a way to resolve insolvency.

Miscellaneous Costs

Expenses that do not fit into any standard category of a budget or financial statement, often irregular or minor in size.

Business Plan

is a formal document detailing a business's objectives, strategies, financial forecasts, and market analysis.

Economic Trends

Patterns or movements in the economy over a period of time, often analyzed to predict future economic performance.