The basic control process of business begins with
a. the achievement of the organization's goals
b. taking corrective action, if needed, to repair performance deficiencies
c. the establishment of clear standards of performance
d. the comparison of actual performance to expected performance
e. identifying the source of the performance-hampering problem

  Option C

Explanation:

A. Achievement of organizational goals is the result for which the controlling process is initiated.

B. Taking corrective action is the second last step in controlling process.

C. Controlling process starts with the establishment of standards from which the actual performance will be compared.

D. Comparison is the second step in controlling process.

E. Identification will be done only after the comparison and detection of deficiencies in the process.

statement of owner's equity;

the answer is either c or b, i cant be to sure tho.