Match each term with its correct definition.
-The Board of Directors is shown at the top of this diagram.
A)Organizational chart
B)Financial accounting
C)Line position
D)Managerial accounting
E)Planning
F)Directing
G)Controlling

Question

Quizplus · Accepted Answer

An organizational chart typically shows the hierarchy and relationships among the various positions in an organization.

Answer: B 
 Financial accounting involves the recording and reporting of financial transactions for an organization.

Answer: C 
 A line position is typically a position that is directly involved in the production or delivery of a product or service, and is considered part of the core operations of the organization.

Answer: D 
 Managerial accounting involves the use of financial information for decision-making and planning within an organization.

Answer: E 
 Planning involves setting goals and developing strategies to achieve those goals.

Answer: F 
 Directing involves guiding and leading employees toward the achievement of organizational goals.

Answer: G 
 Controlling involves monitoring and evaluating performance to ensure that goals are being achieved and corrective action is taken when necessary.

Match Each Term with Its Correct Definition