Match each term with its correct definition.
-This role requires managers to look to the future.
A)Organizational chart
B)Financial accounting
C)Line position
D)Managerial accounting
E)Planning
F)Directing
G)Controlling

Question

Quizplus · Accepted Answer

Planning is the role that requires managers to look to the future and establish goals and strategies to achieve them.

Answer: C
 A line position is a position in the organizational chart that has direct responsibility for the achievement of an organization's goals.

Answer: D
 Managerial accounting involves the preparation and analysis of financial information for use by managers within an organization.

Answer: F
 Directing involves giving guidance and instruction to employees to help them achieve organizational goals.

Answer: G
 Controlling is the process of monitoring performance and taking corrective action to ensure that goals are being achieved according to plan.

Answer: B
 Financial accounting involves the preparation of financial statements, such as balance sheets and income statements, for use by external stakeholders, such as investors and creditors.

Match Each Term with Its Correct Definition