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What is the function of management that involves comparing sales figures for a financial period to the forecast of sales for the same period? (A) Collecting market research data (B) Comparing cash and credit sales (C) Implementing financial plans (D) Monitoring the achievement of marketing plans - HSC - SSCE Business Studies - Question 9 - 2002 - Paper 1
Question 9
What is the function of management that involves comparing sales figures for a financial period to the forecast of sales for the same period? (A) Collecting market ... show full transcript
Worked Solution & Example Answer:What is the function of management that involves comparing sales figures for a financial period to the forecast of sales for the same period? (A) Collecting market research data (B) Comparing cash and credit sales (C) Implementing financial plans (D) Monitoring the achievement of marketing plans - HSC - SSCE Business Studies - Question 9 - 2002 - Paper 1
Step 1
Identifying the Correct Function of Management
Answer
The function of management that focuses on comparing actual sales figures against forecasted sales for a specified period is crucial for evaluating performance and making informed decisions. This function is best described as:
(D) Monitoring the achievement of marketing plans.
This involves analyzing discrepancies between the forecast and the actual sales data, which helps in assessing the effectiveness of the marketing strategies implemented.