Match the descriptions with their terms:
-The function of setting goals and objectives.
A) Managerial accounting
B) Financial accounting
C) Planning
D) Directing and motivating
E) Controlling
F) Work in process inventory
G) Direct materials
H) Manufacturing overhead
I) Period costs
J) Prime costs
K) Conversion costs

Question

Match the descriptions with their terms:
-The function of setting goals and objectives.
A) Managerial accounting
B) Financial accounting
C) Planning
D) Directing and motivating
E) Controlling 
F) Work in process inventory
G) Direct materials
H) Manufacturing overhead
I) Period costs
J) Prime costs
K) Conversion costs

Quizplus · Accepted Answer

Planning involves setting goals and objectives for an organization to achieve over a specific period, guiding the direction and actions needed to reach these targets.

Match the Descriptions with Their Terms