Matching
Match the definitions 1 through 9 with the correct term or phrase a through i.
Premises:
A comprehensive business plan that includes specific plans for expected sales,the units of product to be produced,the merchandise or materials to be purchased,the expenses to be incurred,the long-term assets to be purchased,and the amounts of cash to be borrowed or loans to be repaid,as well as a budgeted income statement and balance sheet.
A plan that shows the units or costs of merchandise to be purchased by a merchandising company during the budget period.
A plan that shows predicted operating expenses not included in the selling expenses budget.
A quantity of inventory or materials over the minimum to reduce the risk of running short.
A plan showing the units of goods to be sold and the sales to be derived; the usual starting point in the budgeting process.
A plan that shows the expected cash inflows and cash outflows during the budget period,including receipts from any loans needed to maintain a minimum cash balance and repayments of such loans.
A formal statement of a company's future plans,usually expressed in monetary terms.
An accounting report that presents predicted amounts of the company's revenuesand expenses for the budgeting period.
An accounting report that presents predicted amounts of the company's assets,liabilities,and equity balances at the end of the budget period.
Responses:
Budgeted income statement
Safety stock
Cash budget
Budget
General and administrative expense budget
Sales budget
Master budget
Budgeted balance sheet
Merchandise purchases budget
Correct Answer:
Premises:
Responses:
A comprehensive business plan that includes specific plans for expected sales,the units of product to be produced,the merchandise or materials to be purchased,the expenses to be incurred,the long-term assets to be purchased,and the amounts of cash to be borrowed or loans to be repaid,as well as a budgeted income statement and balance sheet.
A plan that shows the units or costs of merchandise to be purchased by a merchandising company during the budget period.
A plan that shows predicted operating expenses not included in the selling expenses budget.
A quantity of inventory or materials over the minimum to reduce the risk of running short.
A plan showing the units of goods to be sold and the sales to be derived; the usual starting point in the budgeting process.
A plan that shows the expected cash inflows and cash outflows during the budget period,including receipts from any loans needed to maintain a minimum cash balance and repayments of such loans.
A formal statement of a company's future plans,usually expressed in monetary terms.
An accounting report that presents predicted amounts of the company's revenuesand expenses for the budgeting period.
An accounting report that presents predicted amounts of the company's assets,liabilities,and equity balances at the end of the budget period.
Premises:
A comprehensive business plan that includes specific plans for expected sales,the units of product to be produced,the merchandise or materials to be purchased,the expenses to be incurred,the long-term assets to be purchased,and the amounts of cash to be borrowed or loans to be repaid,as well as a budgeted income statement and balance sheet.
A plan that shows the units or costs of merchandise to be purchased by a merchandising company during the budget period.
A plan that shows predicted operating expenses not included in the selling expenses budget.
A quantity of inventory or materials over the minimum to reduce the risk of running short.
A plan showing the units of goods to be sold and the sales to be derived; the usual starting point in the budgeting process.
A plan that shows the expected cash inflows and cash outflows during the budget period,including receipts from any loans needed to maintain a minimum cash balance and repayments of such loans.
A formal statement of a company's future plans,usually expressed in monetary terms.
An accounting report that presents predicted amounts of the company's revenuesand expenses for the budgeting period.
An accounting report that presents predicted amounts of the company's assets,liabilities,and equity balances at the end of the budget period.
Responses:
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