The concept of “management by exception” refers to management’s consideration of:
The concept of “management by exception” refers to management’s consideration of:
1. only those items that vary materially from plans.
2. only rare and unusual events.
3. items selected at random.
4. only those items that vary materially from the operations of the previous year.
5. only those items deemed to be exceptionally important.
Any idea which one is the answer?
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