________ refers to the process that identifies variances by comparing actual revenues and expenses to projected revenues and expenses.
A) Factor analysis
B) Forecasting
C) Financial planning
D) Financial control

Question

Quizplus · Accepted Answer

Financial control involves monitoring and analyzing actual financial results compared to projected results in order to identify any variances or differences. By doing so, financial managers can make necessary adjustments to improve financial performance and achieve organizational goals. Factor analysis and forecasting are related but different processes that involve analyzing data to make predictions about future outcomes, while financial planning involves creating budgets and financial goals for the organization.

________ Refers to the Process That Identifies Variances by Comparing