Management accounting - Marvel Education

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Practice Reading: Fill in The Blanks (Drag & Drop) ID: #37179 Management accounting

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* Drag the correct answer into all target fields

Management accounting is concerned with providing information and to managers to help them plan, evaluate and control activities, in order to achieve an organization’s . Whereas financial accounting is concerned with reporting on the past financial performance of an organization, management accounting is essentially concerned with improving its future performance. In order to understand the and principles of management accounting it is necessary first to have some of what managers do! This, in turn, requires an understanding of the organizations in which managers work – and of the external environment in which these organizations exist and operate.

category concepts fame analysis comparison appreciation objectives

Result:

A.I. Explanation:

Correct answer: analysis
Explanation: The word 'analysis' fits grammatically as it is a noun that complements the verb 'providing.' It aligns contextually with the information being given to managers, as analysis is a critical component of management accounting that aids in decision-making.
Meaning: 'Analysis' refers to the detailed examination of information to understand it better and make informed decisions.
Wrong options:
fame: 'Fame' is a noun that refers to the state of being known or recognized, which does not relate to the context of providing information to managers.
category: 'Category' is a noun that denotes a class or division, which does not fit the context of providing actionable information to managers.
comparison: 'Comparison' is a noun that involves evaluating similarities and differences, which does not directly relate to the provision of information in management accounting.
concepts: 'Concepts' is a noun that refers to abstract ideas or general notions, but it does not fit as a complement to 'providing' in this context.
objectives: 'Objectives' is a noun that refers to goals or aims, which does not fit the context of what is being provided to managers.
Correct answer: objectives
Explanation: The term 'objectives' fits grammatically as it is a plural noun that aligns with the context of what organizations aim to achieve. It is essential in management accounting as it provides direction for planning and evaluation.
Meaning: 'Objectives' refer to specific goals or targets that an organization aims to achieve.
Wrong options:
fame: 'Fame' does not fit as it refers to recognition rather than goals or targets in a business context.
category: 'Category' does not relate to the goals of an organization, making it contextually inappropriate here.
appreciation: 'Appreciation' refers to recognition or understanding, which does not align with the concept of organizational goals.
analysis: 'Analysis' is a noun that refers to examination, which does not fit as a goal or aim of an organization.
comparison: 'Comparison' does not relate to objectives and is not a suitable term for what organizations strive to achieve.
concepts: 'Concepts' refers to abstract ideas, which do not represent specific goals or objectives.
Correct answer: concepts
Explanation: The word 'concepts' fits grammatically as it is a plural noun that refers to the foundational ideas in management accounting. It is contextually relevant as understanding these concepts is crucial for grasping the principles of the field.
Meaning: 'Concepts' refer to the fundamental ideas or theories that form the basis of management accounting.
Wrong options:
fame: 'Fame' does not relate to the foundational ideas in management accounting and is contextually irrelevant.
category: 'Category' does not fit as it does not pertain to the foundational ideas necessary for understanding management accounting.
appreciation: 'Appreciation' refers to recognition or understanding but does not specifically relate to the concepts of management accounting.
objectives: 'Objectives' refers to goals, which do not fit as foundational ideas or concepts in this context.
analysis: 'Analysis' is a process rather than a foundational idea, making it unsuitable here.
comparison: 'Comparison' does not pertain to the concepts necessary for understanding management accounting.
Correct answer: appreciation
Explanation: The term 'appreciation' fits grammatically as it is a noun that complements the phrase 'have some.' It is contextually relevant as it indicates the understanding or recognition of what managers do, which is essential for grasping management accounting concepts.
Meaning: 'Appreciation' refers to a recognition or understanding of the value or significance of something.
Wrong options:
fame: 'Fame' does not fit as it refers to recognition in a public sense, which is not relevant to understanding managerial roles.
category: 'Category' does not relate to the understanding of managerial functions and is contextually inappropriate.
concepts: 'Concepts' refers to ideas rather than an understanding of what managers do, making it unsuitable here.
objectives: 'Objectives' refers to goals, which do not fit the context of understanding managerial roles.
analysis: 'Analysis' is a process of examination and does not pertain to the recognition or understanding of managerial functions.
comparison: 'Comparison' does not relate to the appreciation of managerial roles and is not contextually appropriate.

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