Which of the Following Functions of Management Involves Taking Corrective

question 53

Multiple Choice

Which of the following functions of management involves taking corrective action if needed?

• A)Planning
• B)Implementing
• C)Reviewing
• D)Control

---

Definitions:

Accounting Standards

Authoritative standards and principles that guide financial accounting and reporting practices for businesses and organizations.

Deferred Tax Item

An accounting concept representing a future tax liability or asset, resulting from temporary differences between the carrying amount of an asset or liability in the balance sheet and its tax base.

AASB 112

The Australian Accounting Standards Board standard that relates to Income Taxes.