A strategic control system must simultaneously pursue both efficiency and flexibility.
Answer the following statement true (T) or false (F)
True
A strategic control system is designed to support managers in evaluating the organization's progress with its strategy and, when discrepancies exist, taking corrective action. The system must encourage efficient operations that are consistent with the plan while allowing flexibility to adapt to changing conditions.
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Lynn transfers land having a $50,000 adjusted basis, an $80,000 FMV, and $10,000 cash to Allied Corporation in exchange for 100% of Allied's stock. The corporation assumes the $70,000 mortgage on the land. Which of the following statements is correct?
A. Lynn recognizes no gain and the stock basis is $50,000. B. Lynn recognizes no gain and the stock basis is $60,000. C. Lynn recognizes a $10,000 gain and the stock basis is zero. D. Lynn recognizes a $10,000 gain and the stock basis is $60,000.
Which of the following items is a measure of a company's ability to collect receivables?
A) inventory turnover ratio B) current ratio C) days' sales in receivables D) account receivable balance
Payroll Taxes and Benefits Expense includes all of the following except
A) federal income taxes. B) Social Security taxes. C) Medicare taxes. D) unemployment taxes.
Madeline is writing an e-mail message to ask about conference facility availability and rates. She should use the direct pattern
Indicate whether the statement is true or false