Managerial accounting includes the planning function.Which of the following items would be part of the planning function of a business's managerial accounting?
A) comparing actual to expected results
B) choosing goals and deciding how to achieve them
C) monitoring operations to keep the company on track
D) monitoring and evaluating the results of operations

Question

Quizplus · Accepted Answer

Planning is the process of setting goals and determining how to achieve them. Therefore, choosing goals and deciding how to achieve them is part of the planning function of managerial accounting. The other options listed relate more to the control and evaluation functions of managerial accounting.

Managerial Accounting Includes the Planning Function