The Cluster of Decisions That Managers Make to Assist an Organization

question 7

Multiple Choice

The cluster of decisions that managers make to assist an organization to achieve its goals is known as

• A)strategy.
• B)scenario planning.
• C)organizing.
• D)needs assessment.

---

Definitions:

Period Cost

Costs that are not directly tied to the production of goods and are expensed in the period they are incurred.

Financial Accounting

The practice of recording, summarizing, and reporting the myriad of transactions resulting from business operations over a period of time.

Managerial Accounting

The practice of analyzing, presenting, and interpreting financial data to help managers make informed business decisions.

Economic Events

Transactions and occurrences that affect the financial position of a business, including sales, purchases, and investments.