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Details Title: Vernon Smith - ACG2071 Description: Chapter 9 Vocab Total Flash Cards: 5 Created: 03/22/2006 10:51:52	To study from this set of flash cards, or to create your own your own study flash cards, register HERE. If you are already a registered user, CLICK HERE.
Cards Term budget Definition A detailed plan for acquiring and using financial and other resources over a specified time period Term master budget Definition A summary of a company’s plans that sets specific targets for sales, production, distribution, and financing activities. Term Planning Definition Involves developing objectives and preparing various budgets to achieve those objectives Term Control Definition Involves the steps taken by management to increase the likelihood that the objectives set down at the planning stage are attained and that all parts of the organization are working towards that goal. Term Responsibility accounting Definition A manager should be held responsible for those items that the manager can actually control to a significant extent