The First Step in the Controlling Function of Management Is

question 78

Multiple Choice

The first step in the controlling function of management is to

• A) take corrective actions.
• B) restrict breaks employees take.
• C) evaluate expense reports.
• D) establish performance standards.
• E) measure individual and organizational performance.

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Definitions:

Current Ratio

A measure used to determine a company's potential to fulfill obligations due within one year by calculating the ratio of its current assets to its current liabilities.

Indicator Of Liquidity

Measures that indicate how easily a company can convert its assets into cash to cover short-term obligations.

Total Obligations

The sum of a borrower's current and long-term financial responsibilities.

Past Transactions

Completed financial activities or events that have occurred in the past and have been recorded in the accounting records.