Time allowed: 10 minutes Listed below are a number of terms that relate to organizations, the work of management and the role of management accounting:

Choose the term or terms above that most appropriately complete the following statements:
1. A position on the organization chart that is directly related to achieving the basic objectives of an organization is called a _____ position.

2. When _____ , managers oversee day-to-day activities and keep the organization functioning smoothly.

3. The plans of management are expressed formally in _____.

4. _____ consists of identifying alternatives, selecting from among the alternatives the one that is best for the organization, and specifying what actions will be taken to implement the chosen alternative.

5. A _____ position provides service or assistance to other parts of the organization and does not directly achieve the basic objectives of the organization.

6. The delegation of decision-making authority throughout an organization by allowing managers at various operating levels to make key decisions relating to their area of responsibility is called _____ .

7. Management accounting places less emphasis on _____ and more emphasis on _____ than financial accounting.

8. _____ is concerned with providing information for the use of those who are inside the organization, whereas _____ is concerned with providing information for the use of those who are outside the organization.

9. The accounting and other reports coming to management that are used in controlling the organization are called _____ .

10. The manager in charge of the accounting department is generally known as the _____ .

11. A detailed report to management comparing budgeted data against actual data for a specific time period is called a _____.

Transcribed Image Text:

Budgets Directing and motivating Line Performance report Staff Chief Accountant Feedback Management accounting Planning Decentralization Financial accounting Non-monetary data Precision