A Means of Gathering and Using Information to Aid and Coordinate

question 14

Multiple Choice

A means of gathering and using information to aid and coordinate planning and control decisions throughout an organization and to guide behavior of its managers and other employees is called ________.

• A)ability
• B)determination
• C)goal congruence
• D)procedure development
• E)management control system

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Definitions:

Bilateral Contract

An agreement between two parties in which each party commits to performing a specific obligation.

Consideration

In a contractual agreement, it is the value or promise that each party agrees to exchange.

Promissory Estoppel

A legal principle that enables a party to recover on a promise made when they have reasonably relied on that promise to their detriment, even if a formal contract does not exist.

Illusory Contract

An agreement that fails to bind at least one of the parties due to the lack of a definite promise or because the terms allow for withdrawal without consequence.