Which of the Following Functions of Management Involves Setting Short

question 15

Multiple Choice

Which of the following functions of management involves setting short and long-term objectives and the tactics to achieve them?

• A)Planning
• B)Organizing
• C)Directing/leading
• D)Control

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Definitions:

Accrual Earnings

Earnings that are recognized when revenues are earned and expenses are incurred, not necessarily when cash is received or paid.

Reconciliation

The process of ensuring that two sets of records (usually the balances of two accounts) are in agreement.

Direct Method

The Direct Method in accounting is a way to present the cash flow statement, showing actual cash receipts and payments, directly reporting major classes of gross cash receipts and payments.

Accrual Accounts

Accounts that record revenues and expenses when they are earned or incurred, not necessarily when cash is received or paid.