Question

1. Which of the following is an example of the management activity referred to as planning? a. Developing a strategy for disposing of hazardous waste. b. The decision to eliminate an unprofitable segment of an organization. c. The decision to outsource an organization's payroll processing. d. All of these are correct 2. Investigating production variances and adjusting the production process is an example of a. planning. b. controlling c. decision making. d. all of these 3. Assigning costs to cost objects a. provides information for decision making. b. can be accomplished in a number of ways. c. can be a simple or complex process. d. do all of these

Answer 1

Solution 1) Correct Answer Reason : a) Developing a strategy for disposing of hzardous waste Planning involves making plans and strategies for future Developing a strategy is a planning activity. Solution 2) Correct Answer Reason : b) Controlling Controlling involves setting up of some standard and then comparing the actual results with such standard to find the variances then these variances are adjusted Solution 3) Correct Answer Reason : d) do all of these Assigning costs to cost objects provides information for decision making, it can be accompalished in a number of ways and it can be a simple or complex process

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