An effective cost control system controls costs prior to an event through >- establishment of budgets
Question:
An effective cost control system controls costs
• prior to an event through
>- establishment of budgets and standards.
other stated expectations of performance out¬ comes.
• during an event by
>■ correcting deviations from plans or budgets.
>■ monitoring other aspects of operations rela¬ tive to expectations.
• following an event by providing feedback on per¬ formance. LO.1
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Related Book For 
Cost Accounting Foundations And Evolutions
ISBN: 9780324235012
6th Edition
Authors: Michael R. Kinney, Jenice Prather-Kinsey, Cecily A. Raiborn
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