The Final Step in the Control Process Is to ________

question 65

Multiple Choice

The final step in the control process is to ________.

• A) evaluate results and initiate corrective action
• B) measure actual performance
• C) compare actual performance to the standards
• D) measure the standards of performance

---

Definitions:

Fair Value

The price that would be received for selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.

Total Cost

The complete cost of production or operations, including fixed and variable costs, that a company incurs in providing goods or services.

Available-for-Sale Securities

Financial assets such as stocks or bonds that are bought and held primarily for sale in the near term to generate income on short-term price differences.

Trading Securities

Short-term investments in debt or equity securities that a company intends to sell within a short period to generate profits on short-term price differences.