State with reasons whether the following statements are TRUE or FALSE :
8. Planning and controlling are interdependent and interlinked activity – True
Explanation: Planning and controlling are closely interrelated functions of management. On one hand, planning decides the objectives to be achieved and the course of action to be followed. On the other hand, controlling is a process of managing and evaluating the work done in accordance with the standards and taking corrective measures if there are any deviations. The standards that form the basis of controlling are provided by planning. Thus, it can be said that planning and controlling complement each other.
