A number of terms that relate to organizations, the work of management, and the role of manage$-$

rial accounting are listed below:

Budgets Controller

Directing and motivating Feedback

Financial accounting Managerial accounting

Performance report Planning

Precision Timeliness

Required:

Choose the term or terms above that most appropriately complete the following statements. A term

may be used more than once or not at all.

$1.$ When $,$ managers mobilize people to carry out plans and run

routine operations.

$2.$ The plans of management are expressed formally in $.$

$3.$ consists of identifying alternatives, selecting from among the

alternatives the one that is best for the organization, and specifying what actions will be taken

to implement the chosen alternative.

$4.$ Managerial accounting places less emphasis on and more em$-$

phasis on than fi nancial accounting.

$5.$ is concerned with providing information for the use of those

who are inside the organization, whereas is concerned with

providing information for the use of those who are outside the organization.

$6.$ emphasizes detailed segment reports about departments, cus$-$

tomers, products, and customers.

$7.$ must follow GAAP, whereas

need not follow GAAP.

$8.$ The accounting and other reports that help managers monitor performance and focus on prob$-$

lems and$/$or opportunities are a form of $........$

$9.$ The manager in charge of the accounting department is usually known as the

$.........$

$10.$ A detailed report to management comparing budgeted data with actual data for a specifi c time

period is a $..........$