The Process of Looking Forward to Future Events and Conditions

question 30

Multiple Choice

The process of looking forward to future events and conditions, and deciding on the courses of action for achieving organizational goals, is which one of the four basic functions of management?

• A) planning
• B) organizing
• C) directing
• D) controlling

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Definitions:

Plane Operating Costs

The expenses associated with operating an aircraft, including fuel, maintenance, crew, and landing fees.

Variable Cost

A cost that changes in proportion with the level of output or activity.

Fixed Cost

Expenses that do not change with the level of output or sales, remaining constant even if the business activity varies.

Activity Variance

The difference between what was expected in terms of expenses or revenues for a particular activity level and what was actually realized.