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Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773

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BuyFindarrow_forward

Managerial Accounting: The Corners...

7th Edition
Maryanne M. Mowen + 2 others
ISBN: 9781337115773
Textbook Problem
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Define control. How are budgets used to control?

To determine

Explain the meaning of control. Also, explain the manner in which budgets are used to control.

Explanation

Control:

Control refers to the process of analyzing the activities that have taken place and comparing those activities with the plans. Variances found during control activity are investigated and accordingly corrective actions are taken, including making modifications to the budgets.

In controlling process, following activities take place:

  • • Supervision of activities...

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