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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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Which of the following is part of the control process?

  1. a. Monitoring of actual activity
  2. b. Comparison of actual with planned activity
  3. c. Investigating
  4. d. Taking corrective action
  5. e. All of these.

To determine

Identify the function which is a part of controlling process.

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.

e.

Since all the given options are valid. Therefore, this is the correct option.

a.

Controlling process begins with monitoring the activities actually performed within an entity. Therefore, this is a valid option.

b...

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