Example of the controlling function of management

Reference no: EM131739769

1) Inspecting products and services to ensure they meet quality standards is an example of the controlling function of management.

2) As a business owner, it is important for you never to make exceptions to rules, policies, and procedures once they are established because, if you do, customers and employees will become confused.

3) Successful inventory management involves balancing the costs of inventory with the benefits of having inventory in stock.

4) The perpetual inventory method keeps track of inventory levels on a weekly basis.

5) The minimum amount of merchandise a business wants to keep in inventory is often referred to as the reorder point.

6) Offering discounts on bills paid right away is a good way to improve your business’s cash receipts.

7) Increasing payroll can improve a business’s cash flow.

Reference no: EM131739769

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