Which of the Following Is the First and Most Basic

question 31

Multiple Choice

Which of the following is the first and most basic component in a management control system?

• A) the organization's long-range budget
• B) the organization's goals
• C) the stockholders' goals
• D) managerial effort

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Definitions:

Archie Carroll

A scholar who formulated the Pyramid of Corporate Social Responsibility, suggesting businesses have responsibilities on four levels: economic, legal, ethical, and philanthropic.

Managerial Categories

Classifications of managerial roles or functions based on specific criteria such as scope of responsibility or level of authority.

Express Contract

A contract in which the terms are specifically stated by the parties, either orally or in writing.

Executed Contract

A contract that has been fully performed and completed by all parties involved.