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Directing: It is the process of instructing, motivating and supervising the subordinates and their actions in order to achieve the set targets and minimize the wastage.
Creditors: They are the external entities who offer goods and services on credit to the organization at certain set terms. They make use of financial information to decide whether to offer credit or not.
Controlling: This function of management takes corrective actions in case of deviation from the set targets. Controlling aspect of management is dependent on planning.
Financial accounting: It is concerned with collecting, summarizing and analyzing accounting data for the users of financial statement.
Managerial:
Manager: A manager is one who gets the work done by others. His responsibility is to supervise, coordinate and control the work of subordinates.
Planning: It is a step by step process of deciding the future course of action in order to achieve the organizational goal.
Stockholders: Investors or shareholders are known as stockholders. They invest money in the organization and are issued share/stocks in return to claim holding of their interest.
To Identify: Match the statements with the given terms
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Chapter 18 Solutions
MyLab Accounting with Pearson eText -- Access Card -- for Horngren's Accounting, The Financial Chapters (My Accounting Lab)
- What is the percent change in sales for year 2 compared to the base year of this financial accounting question?arrow_forwardPhoenix Industries has twelve million shares outstanding, generates free cash flows of $75 million each year, and has a cost of capital of 12%. It also has $50 million of cash on hand. Phoenix wants to decide whether to repurchase stock or invest the cash in a project that generates free cash flows of $3 million each year. Should Phoenix invest or repurchase the shares? A) Repurchase B) Invest C) Indifferent between options D) Cannot say for sure provide answerarrow_forwardprovide correct answerarrow_forward
- AccountingAccountingISBN:9781337272094Author:WARREN, Carl S., Reeve, James M., Duchac, Jonathan E.Publisher:Cengage Learning,Accounting Information SystemsAccountingISBN:9781337619202Author:Hall, James A.Publisher:Cengage Learning,
- Horngren's Cost Accounting: A Managerial Emphasis...AccountingISBN:9780134475585Author:Srikant M. Datar, Madhav V. RajanPublisher:PEARSONIntermediate AccountingAccountingISBN:9781259722660Author:J. David Spiceland, Mark W. Nelson, Wayne M ThomasPublisher:McGraw-Hill EducationFinancial and Managerial AccountingAccountingISBN:9781259726705Author:John J Wild, Ken W. Shaw, Barbara Chiappetta Fundamental Accounting PrinciplesPublisher:McGraw-Hill Education
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