By convention, short-term financial control is accomplished by all the following except:
A) Comparing actual to budgeted financial results.
B) Calculating a series of cost and revenue variances at the end of the period.
C) The use of flexible budgets and standard costs.
D) Explaining the total operating-income variance for a given period.
E) The use of productivity analysis.

Question

Quizplus · Accepted Answer

Short-term financial control typically involves comparing actual financial results to budgeted figures, calculating variances, and using flexible budgets and standard costs to understand and manage performance. Productivity analysis, while valuable, is more aligned with operational efficiency and long-term strategic planning rather than short-term financial control.

By Convention, Short-Term Financial Control Is Accomplished by All the Following