Management Control Systems Collect Which Type of Data

question 76

Multiple Choice

Management control systems collect which type of data?

• A)financial
• B)non-financial
• C)data from outside of the company
• D)financial and non-financial
• E)financial and non-financial, including data from both within the company and outside of the company

---

Definitions:

Book Value

An accounting term denoting the portion of the company held by the shareholders at accounting value, not market value.

Fair Value

A financial standard used to determine the fair market price of an asset or liability for transactional or reporting purposes based on current market conditions.

Initial Value Method

A method of accounting for investments, where the investment is recorded at its original cost without recognizing subsequent changes in fair value.

Equipment Account

An account on the balance sheet representing the cost of equipment owned by a company, less any accumulated depreciation.