Match each term or phrase with its correct description by writing the appropriat

Question

Match each term or phrase with its correct description by writing the appropriate letter in the blank:

……….   Business objectives or mission

………. Management accounting

……….   Income Statement

……….   Long-term planning

……….   Accounting

……….   Accountability

……….   Reliability

……….   Maximising business wealth

……….   Financial accounting

……….   Control

1.A process and system for collecting, analysing and communicating economic information

2.Financial information provided to, and useful for, a broad range of users, including managers and others

3.General statements of the business’ aim, typically being long-term and reflecting the attitudes of owners and managers

4.The accounting report that shows by how much the business’ wealth increased or decreased over a particular time period

5.Agreeing to undertake (or refrain from) certain actions, and then reporting on your compliance with the agreement

6.Compelling events to conform to a pre-determined plan

7.Information provided to managers to assist them in the day-to-day running of a business

8.Making decisions that increase business value

9.Accounting information has this quality when it is free from material error or bias

10.A procedure for specifying how business objectives will be achieve over a stated planning horizon

Explanation / Answer

A procedure for specifying how business objectives will be achieve over a stated planning horizon

Business objectives or mission General statements of the business’ aim, typically being long-term and reflecting the attitudes of owners and managers Management accounting Information provided to managers to assist them in the day-to-day running of a business Income Statement The accounting report that shows by how much the business’ wealth increased or decreased over a particular time period Long-term planning

A procedure for specifying how business objectives will be achieve over a stated planning horizon

Accounting A process and system for collecting, analysing and communicating economic information Accountability Agreeing to undertake (or refrain from) certain actions, and then reporting on your compliance with the agreement Reliability Accounting information has this quality when it is free from material error or bias Maximising business wealth Making decisions that increase business value Financial accounting Financial information provided to, and useful for, a broad range of users, including managers and others Control Compelling events to conform to a pre-determined plan

Related Questions

Navigate

• Browse (All)
• Browse M
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.