The managers of an organization are responsible for performing several broad functions. They are ____________________________. planning, controlling, and selling directing, controlling, and evaluating planning, evaluating, and manufacturing planning, controlling, and evaluating

Question

Want to see more full solutions like this?

Answer 1

Textbook Question

Chapter 1, Problem 1MC

The managers of an organization are responsible for performing several broad functions. They are ____________________________.

planning, controlling, and selling
directing, controlling, and evaluating
planning, evaluating, and manufacturing
planning, controlling, and evaluating

Expert Solution & Answer

To determine

Concept introduction:

Accounting is an art of collecting, recording, summarizing and presenting the financial information in a meaningful output. The person who does the accounting is called “Accountant”. The accountant follows some principles to do the accounting; the principles are called ‘Accounting Principles”.

Managerial accounting is the branch of accounting used to generate reports for the purpose of decision makings by managers. The manager uses various types of reports like cost report to take the decision on the costing. The cost of the product is used to determine the profit from the product.

To choose:

The broad functions of management

Answer to Problem 1MC

D. Planning, controlling, and evaluating

Explanation of Solution

Explanation for correct answer:

The broad functions of management are planning, controlling, and evaluating. Hence the correct option is D.

Explanation for incorrect answers:

A. The broad functions of management are planning, controlling, and evaluating. Hence this option is incorrect.

B. The broad functions of management are planning, controlling, and evaluating. Hence this option is incorrect.

C. The broad functions of management are planning, controlling, and evaluating. Hence this option is incorrect.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Students have asked these similar questions

Managerial accounting is generally defined as including the following activities: Multiple Choice O O O planning, organizing, controlling. preparing, operating, creating. preparing, organizing, converting. planning, operating, reporting.

Which function of Management is concerned with an effective procurement of human resources and managing them properly? O a. Staffing O b. Organizing O c. Planning O d. Controlling

In the field of cost accounting, one of the most critical decisions made by a manager is the type of technology that the organization will use to produce its products or deliver its services. Why?

Answer 2

Textbook Question

Chapter 1, Problem 1MC

The managers of an organization are responsible for performing several broad functions. They are ____________________________.

planning, controlling, and selling
directing, controlling, and evaluating
planning, evaluating, and manufacturing
planning, controlling, and evaluating

Expert Solution & Answer

To determine

Concept introduction:

Accounting is an art of collecting, recording, summarizing and presenting the financial information in a meaningful output. The person who does the accounting is called “Accountant”. The accountant follows some principles to do the accounting; the principles are called ‘Accounting Principles”.

Managerial accounting is the branch of accounting used to generate reports for the purpose of decision makings by managers. The manager uses various types of reports like cost report to take the decision on the costing. The cost of the product is used to determine the profit from the product.

To choose:

The broad functions of management

Answer to Problem 1MC

D. Planning, controlling, and evaluating

Explanation of Solution

Explanation for correct answer:

The broad functions of management are planning, controlling, and evaluating. Hence the correct option is D.

Explanation for incorrect answers:

A. The broad functions of management are planning, controlling, and evaluating. Hence this option is incorrect.

B. The broad functions of management are planning, controlling, and evaluating. Hence this option is incorrect.

C. The broad functions of management are planning, controlling, and evaluating. Hence this option is incorrect.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 3

Textbook Question

Chapter 1, Problem 1MC

The managers of an organization are responsible for performing several broad functions. They are ____________________________.

planning, controlling, and selling
directing, controlling, and evaluating
planning, evaluating, and manufacturing
planning, controlling, and evaluating

Expert Solution & Answer

To determine

Concept introduction:

Accounting is an art of collecting, recording, summarizing and presenting the financial information in a meaningful output. The person who does the accounting is called “Accountant”. The accountant follows some principles to do the accounting; the principles are called ‘Accounting Principles”.

Managerial accounting is the branch of accounting used to generate reports for the purpose of decision makings by managers. The manager uses various types of reports like cost report to take the decision on the costing. The cost of the product is used to determine the profit from the product.

To choose:

The broad functions of management

Answer to Problem 1MC

D. Planning, controlling, and evaluating

Explanation of Solution

Explanation for correct answer:

The broad functions of management are planning, controlling, and evaluating. Hence the correct option is D.

Explanation for incorrect answers:

A. The broad functions of management are planning, controlling, and evaluating. Hence this option is incorrect.

B. The broad functions of management are planning, controlling, and evaluating. Hence this option is incorrect.

C. The broad functions of management are planning, controlling, and evaluating. Hence this option is incorrect.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 4

Textbook Question

Chapter 1, Problem 1MC

The managers of an organization are responsible for performing several broad functions. They are ____________________________.

planning, controlling, and selling
directing, controlling, and evaluating
planning, evaluating, and manufacturing
planning, controlling, and evaluating

Expert Solution & Answer

To determine

Concept introduction:

Accounting is an art of collecting, recording, summarizing and presenting the financial information in a meaningful output. The person who does the accounting is called “Accountant”. The accountant follows some principles to do the accounting; the principles are called ‘Accounting Principles”.

Managerial accounting is the branch of accounting used to generate reports for the purpose of decision makings by managers. The manager uses various types of reports like cost report to take the decision on the costing. The cost of the product is used to determine the profit from the product.

To choose:

The broad functions of management

Answer to Problem 1MC

D. Planning, controlling, and evaluating

Explanation of Solution

Explanation for correct answer:

The broad functions of management are planning, controlling, and evaluating. Hence the correct option is D.

Explanation for incorrect answers:

A. The broad functions of management are planning, controlling, and evaluating. Hence this option is incorrect.

B. The broad functions of management are planning, controlling, and evaluating. Hence this option is incorrect.

C. The broad functions of management are planning, controlling, and evaluating. Hence this option is incorrect.

Want to see more full solutions like this?

Subscribe now to access step-by-step solutions to millions of textbook problems written by subject matter experts!

Answer 5

Textbook Question

Answer 6

Textbook Question

Answer 7

Expert Solution & Answer

To determine

Concept introduction:

Accounting is an art of collecting, recording, summarizing and presenting the financial information in a meaningful output. The person who does the accounting is called “Accountant”. The accountant follows some principles to do the accounting; the principles are called ‘Accounting Principles”.

Managerial accounting is the branch of accounting used to generate reports for the purpose of decision makings by managers. The manager uses various types of reports like cost report to take the decision on the costing. The cost of the product is used to determine the profit from the product.

To choose:

The broad functions of management

Answer to Problem 1MC

D. Planning, controlling, and evaluating

Explanation of Solution

Explanation for correct answer:

The broad functions of management are planning, controlling, and evaluating. Hence the correct option is D.

Explanation for incorrect answers:

A. The broad functions of management are planning, controlling, and evaluating. Hence this option is incorrect.

B. The broad functions of management are planning, controlling, and evaluating. Hence this option is incorrect.

C. The broad functions of management are planning, controlling, and evaluating. Hence this option is incorrect.

Answer 8

Expert Solution & Answer

To determine

Concept introduction:

Accounting is an art of collecting, recording, summarizing and presenting the financial information in a meaningful output. The person who does the accounting is called “Accountant”. The accountant follows some principles to do the accounting; the principles are called ‘Accounting Principles”.

Managerial accounting is the branch of accounting used to generate reports for the purpose of decision makings by managers. The manager uses various types of reports like cost report to take the decision on the costing. The cost of the product is used to determine the profit from the product.

To choose:

The broad functions of management

Answer to Problem 1MC

D. Planning, controlling, and evaluating

Explanation of Solution

Explanation for correct answer:

The broad functions of management are planning, controlling, and evaluating. Hence the correct option is D.

Explanation for incorrect answers:

A. The broad functions of management are planning, controlling, and evaluating. Hence this option is incorrect.

B. The broad functions of management are planning, controlling, and evaluating. Hence this option is incorrect.

C. The broad functions of management are planning, controlling, and evaluating. Hence this option is incorrect.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

To determine

Concept introduction:

Accounting is an art of collecting, recording, summarizing and presenting the financial information in a meaningful output. The person who does the accounting is called “Accountant”. The accountant follows some principles to do the accounting; the principles are called ‘Accounting Principles”.

Managerial accounting is the branch of accounting used to generate reports for the purpose of decision makings by managers. The manager uses various types of reports like cost report to take the decision on the costing. The cost of the product is used to determine the profit from the product.

To choose:

The broad functions of management

Answer 12

Answer to Problem 1MC

D. Planning, controlling, and evaluating

Answer 13

Explanation of Solution

Explanation for correct answer:

The broad functions of management are planning, controlling, and evaluating. Hence the correct option is D.

Explanation for incorrect answers:

A. The broad functions of management are planning, controlling, and evaluating. Hence this option is incorrect.

B. The broad functions of management are planning, controlling, and evaluating. Hence this option is incorrect.

C. The broad functions of management are planning, controlling, and evaluating. Hence this option is incorrect.

Answer 14

Ch. 1 - The managers of an organization are responsible...Ch. 1 - Management accountants help the management of an...Ch. 1 - Which of the following is a primary aspect of the...Ch. 1 - During the control function, the measurements...Ch. 1 - Which of the following is false regarding...Ch. 1 - Managerial accounting produces information: to...Ch. 1 - Management accounting: emphasizes special-purpose...Ch. 1 - Internal users of accounting information would not...Ch. 1 - External users of accounting information would...Ch. 1 - Which of the following statements is incorrect?...

The managers of an organization are responsible for performing several broad functions. They are ____________________________. planning, controlling, and selling directing, controlling, and evaluating planning, evaluating, and manufacturing planning, controlling, and evaluating

Videos

Answer to Problem 1MC

Explanation of Solution

Want to see more full solutions like this?

Chapter 1 Solutions

Additional Business Textbook Solutions