The decision making step, which consists of organization goals, predicting alternatives and communicating goals is called _____________?
Correct answer: C. planning
- A. organization
- B. alternation
- C. planning
- D. valuing
Explanation
Planning involves setting organizational goals, forecasting alternatives, and communicating the chosen objectives. Organization is a separate management function concerned with arranging resources and responsibilities.
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About Accounting Principles
Accounting principles explain the rules used to record, classify and report business transactions. Coverage includes the accounting equation, double-entry system, accrual and cash bases, matching and prudence concepts, consistency, going concern, business entity, and the difference between capital and revenue items.
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