The correct answer is option (3) : (B), (E), (D), (A), (C)
The correct sequence of steps in the controlling process is as follows:
1. (B) Setting performance standards: This is the initial step where you establish clear and specific performance standards or objectives that you want to achieve.
2. (E) Measurement of actual performance: After setting the standards, you measure the actual performance or results to determine how well you are doing in comparison to the standards.
4. (D) Comparing actual performance with standards: This step involves the direct comparison of actual performance with the predetermined standards, which was partly done in the measurement step.
3. (A) Analyzing deviations: Once you have the measurements, you analyze the differences or deviations between the actual performance and the established standards to identify areas where performance falls short or exceeds expectations.
5. (C) Taking corrective action: Based on the analysis of deviations, you take corrective actions to address any performance issues, improve results, and bring them in line with the established standards. | 
