Card Set Information
OSU Managerial Accounting Peacock
Chapter 6 Definitions
BLANK is generally higher when an individual participates in setting h is or her own goals than when the goals are imposed from above.
If a manager is not able to meet the budget and it has been BLANK, the manager can always say that the budget was unreasonable or unrealistic to start with, therefore was impossible to meet.
imposed from above
A BLANK is a detailed plan for acquiring and using financial and other resources
over a specified time period.
BLANK involves developing objectives and preparing various budgets to achieve
The budgeting process can uncover potential BLANK before they occur.
BLANK involves the steps taken by management to increase the likelihood that the objectives set down at the planning stage are attained.
Budgets define goals and objectives that can serve as BLANK for evaluating subsequent performance.
In BLANK, a manager is held accountable for those items, and only those items, over which he orshe has significant control.
A BLANK is one that is prepared with the full cooperation and participation of managers at all levels of the organization.
A BLANK is usually responsible for overall policy matters relating to the budget program and for coordinating the preparation of the budget itself.