Solved

Match the Following Terms with the Descriptions Below

Question 66

Matching

Match the following terms with the descriptions below.

Premises:
A budget that reflects the expected cost of the conversion process.
This budget plans for the firm's advertising and shipping expenditures.
A budget that plans the company's desired ending inventory and units to be produced in the coming time period.
A budget contains the cost of the accounting and financing functions of the firm.
A budget that reflects the expected cost of the materials used in the production of the product.
A budget that shows the expected sales for the period in both physical and financial amounts.
The compilation of all the budgets prepared in planning the revenue, expenditure, and conversion process.
Responses:
Master budget
Sales budget
Administrative budget
Direct labor and manufacturing overhead budget
Marketing and distribution budget
Direct materials purchases budget
Production budget

Correct Answer:

A budget that reflects the expected cost of the conversion process.
This budget plans for the firm's advertising and shipping expenditures.
A budget that plans the company's desired ending inventory and units to be produced in the coming time period.
A budget contains the cost of the accounting and financing functions of the firm.
A budget that reflects the expected cost of the materials used in the production of the product.
A budget that shows the expected sales for the period in both physical and financial amounts.
The compilation of all the budgets prepared in planning the revenue, expenditure, and conversion process.
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