Business Studies Fill In The Blanks[1 Marks ]

Controlling can be defined as comparison of actual performance with the planned performance.

Standards are the criteria against which actual performance would be measured.

True.
Explanation:
As planning prescribes an appropriate course of action for achieving objectives whereas controlling evaluates whether decisions have been translated into desired goals.

True.
Explanation:
As controlling enables the management to judge whether the standards set are accurate or not.

Planning and controlling both are forward as well backward looking.