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

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?
Chapter 1 Solutions
Principles of Accounting Volume 2
Additional Business Textbook Solutions
Microeconomics
Marketing: An Introduction (13th Edition)
Operations Management
Fundamentals of Management (10th Edition)
Essentials of Corporate Finance (Mcgraw-hill/Irwin Series in Finance, Insurance, and Real Estate)
Financial Accounting, Student Value Edition (5th Edition)
- I need help with question is correct answer with accounting questionarrow_forwardMID Company had originally expected to earn operating income of $130,000 in the coming year. MID's degree of operating leverage is 3.5. Recently, MID revised its plans and now expects to increase sales by 23% next year. What is the percent change in operating income expected by MID in the coming year?arrow_forward5 POINTarrow_forward
- What is the percent change in operating income ?arrow_forwardA company's budgeted variable overheads for a period amounted to $30,000. During this period, the company spent $29,400 on variable overheads. The company's level of production was expected to require 15,000 labor hours, but the actual amount of labor hours used was only 13,500 hours. What was the variable overhead expenditure variance for the period?arrow_forwardCalculate the operating cash flowarrow_forward
- Alina’s Catering has a monthly target operating income of $16,000. Variable expenses are 40% of sales and monthly fixed expenses are $14,000. What is Alina’s operating leverage factor at the target level of operating income? a. 0.40 b. 2.67 c. 1.875 d. 0.63arrow_forwardQuick answer of this accountingarrow_forwardWhat is the cost of goods sold for January??arrow_forward
- Principles of Accounting Volume 2AccountingISBN:9781947172609Author:OpenStaxPublisher:OpenStax CollegeManagerial Accounting: The Cornerstone of Busines...AccountingISBN:9781337115773Author:Maryanne M. Mowen, Don R. Hansen, Dan L. HeitgerPublisher:Cengage LearningPkg Acc Infor Systems MS VISIO CDFinanceISBN:9781133935940Author:Ulric J. GelinasPublisher:CENGAGE L
- Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,Principles of Accounting Volume 1AccountingISBN:9781947172685Author:OpenStaxPublisher:OpenStax CollegeManagerial AccountingAccountingISBN:9781337912020Author:Carl Warren, Ph.d. Cma William B. TaylerPublisher:South-Western College Pub



