M$1-2($Static$)$ Matching Terminology $[$LO $1-1,1-2,1-4]$

Match each of the following terms to the corresponding definition by entering the appropriate letter in the space provided. Not all definitions will be used.

Accounting information that is aimed at external users

Accounting information that is aimed at those working inside the organization

The establishment of goals and objectives along with the tactics that will be used to achieve them

The process of putting a plan into action

The measurement and monitoring of a company$$s performance to see if planned objectives are being met

A company that purchases raw materials and converts them into finished products

A company that sells manufactured products

The cost of not doing something

Costs that can be reasonably traced to a cost object

Costs that cannot be reasonably traced or are not worth the effort to trace to a cost object

Costs that change in direct proportion to changes in activity level

Costs that remain the same per unit of activity

Costs that vary inversely per unit of activity

Direct materials plus direct labor

Money that has already been spent

Costs that differ between alternatives

A plan in monetary or financial terms

Inventoriable costs

The ability to meet today$$s needs without sacrificing the ability of future generations to meet their own needs

Period costs