Question : If actual labour costs within an acceptable range of deviation, then it can be ignored. However, If it deviates by 15% then it needs immediate attention of management.
Above statement is a part of __________________________.
 

Option 1: Critical point control
 

Option 2: Management by exception
 

Option 3: Control by exception
 

Option 4: Both B and C
 

Question : It measures and compare actual performance with standard fixed in the past. Which relationship does it represents?
 

Option 1: Planning is viewed as a forward-looking approach
 

Option 2: Planning is also a backward looking function
 

Option 3: Controlling is considered a backward looking function
 

Option 4: Controlling is a forward-looking function.
 

Question : It helps to communicate the role of employees well in advance. It motivates them to give better performance.
Which importance of controlling is highlighted here?
 

Option 1: Accomplishing organisational goals
 

Option 2: Judging accuracy of standards 
 

Option 3: Making efficient use of resources 
 

Option 4: Improving employee motivation.
 

Question : It aims to improve future performance, based on experience gained in the past. Which relationship does it represents?
 

Option 1: Planning is viewed as a forward-looking approach
 

Option 2: Planning is also a backward looking function
 

Option 3: Controlling is considered a backward looking function
 

Option 4: Controlling is a forward-looking function.
 

Question : Which of the following statement is incorrect for financial planning?
 

Option 1: It lacks in coordination.
 

Option 2: It helps in avoiding business shocks and surprises.
 

Option 3: It makes the evaluation of actual performance easier.
 

Option 4: It helps to link present with future