Asked by Jovelyn Angell on Apr 24, 2024
Verified
Control involves the process of instituting procedures and then obtaining feedback to ensure that all parts of the organization are functioning effectively and moving toward overall company goals.
Control Phase
The stage in a process or project where monitoring occurs to ensure that objectives are being met and to implement corrective actions if necessary.
Overall Company Goals
Broad and general objectives that an organization seeks to achieve over a long-term period, guiding its mission and strategic direction.
- Understand the fundamental principles of managerial accounting.
Verified Answer
AS
Alyssa Solis7 days ago
Final Answer :
True
Explanation :
Control in management refers to the process of setting standards, measuring actual performance, and taking corrective action to ensure that organizational objectives are achieved. This involves establishing procedures for various functions and then monitoring and obtaining feedback to ensure that all parts of the organization are functioning effectively and aligning with the overall goals of the company.
Learning Objectives
- Understand the fundamental principles of managerial accounting.
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