The Managerial Role That Involves the Day-To-Day Running of the Business

question 100

Multiple Choice

The managerial role that involves the day-to-day running of the business is the ________.

• A) directing function
• B) planning function
• C) controlling function
• D) strategic planning function

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Definitions:

Manufacturing Costs

Refers to the total expenses incurred in the process of producing a product, including raw materials, labor, and overhead costs.

Variable Costing

An accounting method that only includes variable production costs (direct materials, direct labor, and variable manufacturing overhead) in product costs, treating fixed costs as period expenses.

Absorption Costing

An accounting method that includes all manufacturing costs (direct costs, fixed, and variable overheads) in the cost of a product.

Costing Approach

A method or system used to calculate the cost of a product, project, or service for accounting, financial, and strategic planning.