Identify the type of plan which serves as a controlling device as well.

Budget

The correct answer is option (3) : Budget

The type of plan that serves as a controlling device as well is:

(3) Budget.

• A budget is a financial plan that serves as a blueprint for controlling and managing an organization's finances. It outlines the expected income and expenditure over a specific period, helping to control costs, allocate resources efficiently, and monitor performance against the set financial targets.

• It serves as a tool for comparing actual performance with the planned performance, thereby functioning as a controlling device in addition to guiding financial activities.

(1) Objective :

• Objectives are the desired goals or outcomes that an organization aims to achieve within a specified time frame.

(2) Rule

• Rules refer to specific guidelines or directives that must be followed within an organization. They help in maintaining discipline and order but are primarily aimed at providing a framework for acceptable behavior and conduct.

(4) Programme :

• A program refers to a set of coordinated activities or a plan of action designed to achieve specific objectives. Programs help in organizing and implementing various activities to reach predetermined goals.