BUSINESS ADMINISTRATION
ACCOUNTING FOR MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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different names for the same thing.
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the basic functions of management.
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described equally well by the terms “decision making” and “performance evaluation.”
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exemplified by, respectively, financial statements and budgeting.
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Detailed explanation-1: -Planning and control, often known as production planning and control, are management functions that seek to determine: first, what market demands are stating and second, reconcile how a company can fill those demands through planning and monitoring.
Detailed explanation-2: -Planning is the function of management that involves setting objectives and determining a course of action for achieving those objectives. Planning requires that managers be aware of environmental conditions facing their organization and forecast future conditions.
Detailed explanation-3: -At the most fundamental level, management is a discipline that consists of a set of five general functions: planning, organizing, staffing, leading and controlling.
Detailed explanation-4: -There are four generally accepted functions of management: planning, organizing, leading and controlling. These functions work together in the creation, execution and realization of organizational goals.