Match each of the terms on the left with the appropriate definition on the right. Not all definitions will be used.

Transcribed Image Text:

Term Definition A. Accounting information that is aimed at exter- 1. Budget nal users 2. Controlling B. Accounting information that is aimed at those working inside the organization 3. Direct Costs 4. Financial Accounting C. The establishment of goals and objectives along 5. Fixed Costs with the tactics that will be used to achieve them 6. General and Administrative D. The process of putting a plan into action Expenses E. The measurement and monitoring of a compa- ny's performance to see if planned objectives are being met 7. Merchandising Companies 8. Product Cost 9. Sunk Costs F. A company that purchases raw materials and converts them into finished products 10. Sustainability G. A company that sells manufactured products H. The cost of not doing something I. Costs that can be reasonably traced to a cost object J. Costs that cannot be reasonably traced or are not worth the effort to trace to a cost object K. Costs that change in direct proportion to changes in activity level L. Costs that remain the same per unit of activity M. Costs that vary inversely per unit of activity N. Direct materials plus direct labor 0. Money that has already been spent P. Costs that differ between alternatives Q. A plan in monetary or financial terms R. Inventoriable costs S. The ability to meet today's needs without sacrificing the ability of future generations to meet their own needs T. Period costs