Matching
Match the following definitions with the appropriate term
Premises:
A plan that lists the types and amounts of selling expenses expected during the budget period.
A plan that shows expected activities and their levels for the budget period used to estimate resources required to perform the activities.
A managerial accounting report that presents predicted amounts of the company's assets, liabilities, and equity as of the end of the budget period.
A formal statement of future plans, usually expressed in monetary terms.
A plan showing the expected sales units and dollars from the sales; the starting point in the budgeting process.
A plan that lists dollar amounts estimated to be received from disposing of plant assets and spent on purchasing additional plant assets to carry out the budgeted business activities.
The practice of preparing budgets for a selected number of several periods and revising those budgets as each period is completed.
A plan showing the number of units to be produced each period, based on the units projected in the sales budget, along with inventory considerations.
A plan that shows the expected cash inflows and outflows during the budget period, including receipts from loans needed to maintain a minimum cash balance and repayments of such loans.
Additional monthly or quarterly budgets to replace the ones that have lapsed as each budget period goes by.
Responses:
Budget
Capital expenditures budget
Activity-based budgeting
Sales budget
Production budget
Cash budget
Budgeted balance sheet
Continuous budgeting
Selling expense budget
Rolling budgets
Correct Answer:
Premises:
Responses:
A plan that lists the types and amounts of selling expenses expected during the budget period.
A plan that shows expected activities and their levels for the budget period used to estimate resources required to perform the activities.
A managerial accounting report that presents predicted amounts of the company's assets, liabilities, and equity as of the end of the budget period.
A formal statement of future plans, usually expressed in monetary terms.
A plan showing the expected sales units and dollars from the sales; the starting point in the budgeting process.
A plan that lists dollar amounts estimated to be received from disposing of plant assets and spent on purchasing additional plant assets to carry out the budgeted business activities.
The practice of preparing budgets for a selected number of several periods and revising those budgets as each period is completed.
A plan showing the number of units to be produced each period, based on the units projected in the sales budget, along with inventory considerations.
A plan that shows the expected cash inflows and outflows during the budget period, including receipts from loans needed to maintain a minimum cash balance and repayments of such loans.
Additional monthly or quarterly budgets to replace the ones that have lapsed as each budget period goes by.
Premises:
A plan that lists the types and amounts of selling expenses expected during the budget period.
A plan that shows expected activities and their levels for the budget period used to estimate resources required to perform the activities.
A managerial accounting report that presents predicted amounts of the company's assets, liabilities, and equity as of the end of the budget period.
A formal statement of future plans, usually expressed in monetary terms.
A plan showing the expected sales units and dollars from the sales; the starting point in the budgeting process.
A plan that lists dollar amounts estimated to be received from disposing of plant assets and spent on purchasing additional plant assets to carry out the budgeted business activities.
The practice of preparing budgets for a selected number of several periods and revising those budgets as each period is completed.
A plan showing the number of units to be produced each period, based on the units projected in the sales budget, along with inventory considerations.
A plan that shows the expected cash inflows and outflows during the budget period, including receipts from loans needed to maintain a minimum cash balance and repayments of such loans.
Additional monthly or quarterly budgets to replace the ones that have lapsed as each budget period goes by.
Responses:
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