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Mgmt E-1000 Test Bank For Managerial Accounting 3rd Edition

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Sandra Watson
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Harvard University

Financial Accounting Principles (MGMT E-1000)

Test bank for Managerial Accounting 3rd Canadian Edition by Karen W. Braun

What are the four primary responsibilities of managers as described in Chapter 1? Give
an example of each type of responsibility.
Answer: The following are managers’ four primary responsibilities:
a. Planning: An example of planning is when the manager of a local McDonald’s restaurant
makes the schedule of employee work hours for the upcoming week.
b. Directing: An example of directing is when the manager of the local McDonald’s adjusts
the menu to reflect local tastes and preferences.
c. Controlling: An example of controlling is when the manager of the local McDonald’s
compares the actual number of hamburger patties used over the past week to the budgeted
number of hamburger patties.
d. Decision-making: The owners of the local McDonald’s franchise analyze the potential of
the current location and decide to open a second location five miles away in a popular
shopping plaza.
Note that student examples of each type of responsibility may vary.

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Mgmt E-1000  Test Bank For Managerial Accounting 3rd Edition

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