Question
Itumeleng runs a fast-food restaurant, Fresh Bites, which has seen rapid growth over the past year. However, with this growth, there have been some issues with sticking to the allocated budgets for various departments, and she notices that some expenses are not being tracked properly. To ensure the business stays on track financially, Itumeleng needs to put in place a system that allows her to monitor spending against set budgets and standards, ensuring her company stays within its financial limits and meets its goals. Which managerial function of financial management is depicted in the scenario?
A.
Financial activating
B.
Financial planning
C.
Financial organising
D.
Financial controlling
A.
Financial activating
B.
Financial planning
C.
Financial organising
D.
Financial controlling
Answers
GPT-4o mini
The managerial function of financial management depicted in the scenario is:
**D. Financial controlling**
This is because Itumeleng is focused on monitoring spending against set budgets and standards to ensure that the business stays within its financial limits and meets its goals, which is a key aspect of financial controlling.
**D. Financial controlling**
This is because Itumeleng is focused on monitoring spending against set budgets and standards to ensure that the business stays within its financial limits and meets its goals, which is a key aspect of financial controlling.