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Part $1$

What are the major components of a management control$$ system?

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Part $1$

A$.$

The major components$$ include, $(1)$ setting goals and$$ targets, $(2)$ external financial reporting to$$ owners, $(3)$ measuring, monitoring, and reporting results of$$ actions, and$(4)$ evaluating and rewarding performance.

B$.$

The major components$$ include, $(1)$ setting goals and$$ targets, $(2)$ developing and executing the$$ plan, $(3)$ measuring, monitoring, and reporting results of$$ actions, and$(4)$ evaluating and rewarding performance.

C$.$

The major components$$ include, $(1)$ setting goals and$$ targets, $(2)$ external financial reporting to$$ owners, $(3)$ measuring, monitoring, and reporting results of$$ actions, and$(4)$ requiring monthly progress reports of employees.

D$.$

The major components$$ include, $(1)$ setting goals and$$ targets, $(2)$ external financial reporting to$$ owners, $(3)$ requiring yearly employee$$ training, and$(4)$ requiring monthly progress reports of employees.