Management Finance - Part 1

Which statement best describes the relationship between planning and control?

Type: MCQ • Marks: 1
Which statement best describes the relationship between planning and control?
Options
A. They are completely independent
B. Planning establishes objectives and standards, while control assesses actual performance against them
C. Control always precedes planning
D. Planning becomes unnecessary once control is introduced
Explanation
Planning and control form a continuous management cycle. Control also provides feedback for subsequent planning.
UPSC Principal & Vice Principal Management Finance Administration

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