Which of These Is Not Part of the Control Phase

question 34

Multiple Choice

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

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

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Definitions:

Affective Forecasting

The process of predicting one's emotional state in future circumstances.

Anxiety

This is a feeling of worry, nervousness, or unease, typically about an imminent event or something with an uncertain outcome.

Risk-as-feelings Hypothesis

A theory suggesting that people's decision-making is influenced by their emotional responses to the possibility of negative outcomes.

Gut Reactions

Instantaneous responses we have to a situation or stimulus, not based on rational analysis but on our innate, visceral feelings.