What is controlling?
What will be an ideal response?
Controlling (also called monitoring) is the process by which managers measure performance and make sure the company's plans and strategies are being or have been properly carried out. Through the control process, managers ensure that the direction a company is moving toward aligns with its short- and long-term plans. The controlling process also can detect errors in systems, so if a plan is not meeting its goals, it can be modified.
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Zach Company owns 45% of the voting stock of Tomas Corporation and uses the equity method in recording this investment. Tomas Corporation reported a $20,000 net loss. Zach Company's entry would include a
a. credit to cash for $9,000 b. debit to the investment account for $9,000 c. credit to the investment account for $9,000 d. credit to a loss account for $9,000
Which of the following terms refers to an incremental implementation of a marketing plan that allows for feedback and corrective adjustments early in the implementation process?
A) adaptive persistence B) adaptive rollout C) channel strategy D) marketing mix E) benchmarking
The beginning work in process inventory is 60 percent complete, and the ending work in process inventory is 50 percent complete. The dollar amount of the production cost included in the ending work in process inventory (using the average cost method) is determined by multiplying the average unit costs by what percentage of the total units in the ending work in process inventory?
a. 100 percent b. 60 percent c. 55 percent d. 50 percent
Service businesses can be classified as wholesalers and retailers
Indicate whether the statement is true or false