Controlling Is the Management Process of ________

question 101

Multiple Choice

Controlling is the management process of ________.

• A) guiding and motivating employees to meet organizational objectives
• B) determining how to arrange a firm's resources into a coherent structure
• C) scanning the business environment for threats and opportunities
• D) monitoring a firm's performance to ensure that it is meeting its goals

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Definitions:

Price Variance

The difference between the actual cost of a good or service and its expected or standard cost, which can signal efficiency issues or market fluctuations.

Direct Materials

Raw materials that can be directly traced to the manufacturing process of a product and are a significant component of its production cost.

Unfavorable

A term often used in budgeting and financial analysis to describe results that are worse than expected or budgeted figures.

Cost Variance

The difference between actual cost and the flexible budget at actual volumes.