_____ Refers to the Management Process of Comparing Actual to Planned

question 29

Multiple Choice

_____ refers to the management process of comparing actual to planned performance and taking necessary corrective actions.

• A)Reparation
• B)Delegation
• C)Thinking outside the box
• D)Controlling

---

Definitions:

Accrued

Income earned or expenses incurred before cash has been exchanged, often recognized in the accounting process.

Insurance Policy

A legal contract between an insurer and the insured, outlining the terms, coverages, premiums, and conditions under which the insurer agrees to compensate the insured.

Adjusting Entry

A journal entry made at the end of an accounting period to allocate revenues and expenses to the period in which they actually occurred.

Prepaid Insurance

Insurance premiums paid in advance for coverage that extends into future accounting periods.