Monitoring Operations and Keeping the Company on Track Is Part

question 116

Multiple Choice

Monitoring operations and keeping the company on track is part of the ________.

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

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Definitions:

Net Income

The total profits of a company after all expenses and taxes have been deducted from total revenues.

Owner's Drawings

The act of an owner drawing funds from a business in a sole proprietorship or partnership for personal needs.

Capital Account

A capital account is a financial statement that shows the changes in a company’s assets, liabilities, and equity, or an individual part of a nation's balance of payments reflecting net change in ownership of national assets.

Owner's Equity

The residual interest in the assets of a business after all liabilities are deducted.