LUMP-SUM Definition

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LUMP-SUM is an agreed upon sum of money, which is paid in full settlement all at one time.

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WHITE KNIGHT is an entity that comes to the rescue of a corporation that is being taken over.

MANAGEMENT CONTROL SYSTEM is essentially a strategic tool for holding managers accountable and responsible for their performance. Existence of such a system also provides feedback for managers to know how they perform, in which direction the organization is heading, and what type of course correction may be required to stay on course.

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