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Questions and Answers
Strategic planning is the process of selecting a course of action and specifying how the action will be implemented to achieve goals and objectives.
Strategic planning is the process of selecting a course of action and specifying how the action will be implemented to achieve goals and objectives.
True
Managerial accounting is only used in the implementation phase of the management process.
Managerial accounting is only used in the implementation phase of the management process.
False
Relevant cost analysis and cost-volume-profit analysis are examples of managerial accounting activities in the control phase.
Relevant cost analysis and cost-volume-profit analysis are examples of managerial accounting activities in the control phase.
False
Budgeting and forecasting are examples of managerial accounting activities in the planning phase.
Budgeting and forecasting are examples of managerial accounting activities in the planning phase.
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Control in the management process involves obtaining feedback to ensure that the organization is moving toward its goals and objectives.
Control in the management process involves obtaining feedback to ensure that the organization is moving toward its goals and objectives.
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