The Concept of 'Management by Exception' Is Part of Which

question 15

Multiple Choice

The concept of 'management by exception' is part of which management function?

• A) planning.
• B) directing.
• C) controlling.
• D) organising.

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Definitions:

Beginning Balance

The amount of money in a given account at the start of a financial period.

Petty Cash Fund

A small amount of cash kept on hand for making immediate, minor expenditures.

Journal Entries

The recordation of financial transactions in a company's accounting system, typically involving a debit and credit entry.

Discrepancy

An inconsistency or difference that arises in the course of comparing two sets of figures or facts, often leading to questions that require resolution.