Which of the Following Is Not Part of the Control

question 9

Multiple Choice

Which of the following is not part of the control phase of budgeting?

• A) Comparing actual performance with budget estimates.
• B) Deciding what action should be taken.
• C) Identifying any significant variances.
• D) Setting goals.

Explain the inclusion and disclosure of post-reporting period events in the financial statements.

Discuss the limitations of the balance sheet in financial reporting.

Classify the balance sheet components into appropriate sections and subclassifications.

Understand and apply the measurement alternatives identified by the FASB for balance sheet elements.