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 controlling
D.
Financial organising
A.
Financial activating
B.
Financial planning
C.
Financial controlling
D.
Financial organising
Answers
GPT-4o mini
The scenario described depicts **C. Financial controlling**.
Financial controlling involves monitoring and managing a company's financial resources to ensure spending aligns with the budget and financial goals. Itumeleng’s efforts to track expenses and ensure the business stays within financial limits falls under this function.
Financial controlling involves monitoring and managing a company's financial resources to ensure spending aligns with the budget and financial goals. Itumeleng’s efforts to track expenses and ensure the business stays within financial limits falls under this function.