Final answer:
The activity most typically described as a controlling function in management is budgetary review, which involves monitoring and managing financial resources to align with organizational goals.
Step-by-step explanation:
The controlling function in management typically involves monitoring performance to ensure that organizational goals are being met and taking corrective action as necessary. Among the listed options, c. Budgetary review is most closely associated with the controlling function of management. Goal setting is related to planning, purchasing is part of the procurement process, staffing and recruiting are components of human resource management, but budgetary review pertains directly to the monitoring and controlling aspect of management where financial resources are tracked and managed to ensure they align with the organization's objectives.