Matching
Presented below are terms or phrases preceded by letters (a)through (j)and followed by a list of definitions 1 through 10.Match the correct definitions with the terms or phrases by placing the letter of the term or phrase in the answer space provided at the beginning of the definition
Premises:
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.
An accounting report that presents predicted amounts of the company's assets, liabilities, and equity as of the end of the budget period.
A plan showing the number of units to be produced each month.
A new set of budgets added to replace the ones that have lapsed as each budget period goes by.
A plan showing the units of goods to be sold and the sales to be derived; usually the starting point in the budgeting process.
A plan that lists the types and amounts of selling expenses expected during the budget period.
A plan that shows the predicted costs for direct materials, direct labor, and overhead costs to be incurred in manufacturing the units in the production budget.
A plan that lists dollar amounts to be both received from disposing of plant assets and spent on purchasing additional plant assets to carry out the budgeted business activities.
A formal statement of future plans, usually expressed in monetary terms.
The practice of preparing budgets for a selected number of several periods and revising those budgets as each period is completed.
Responses:
Manufacturing budget
Budgeted balance sheet
Selling expense budget
Sales budget
Capital expenditure budget
Rolling budgets
Production budget
Continuous budgeting
Budget
Cash budget
Correct Answer:
Premises:
Responses:
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.
An accounting report that presents predicted amounts of the company's assets, liabilities, and equity as of the end of the budget period.
A plan showing the number of units to be produced each month.
A new set of budgets added to replace the ones that have lapsed as each budget period goes by.
A plan showing the units of goods to be sold and the sales to be derived; usually the starting point in the budgeting process.
A plan that lists the types and amounts of selling expenses expected during the budget period.
A plan that shows the predicted costs for direct materials, direct labor, and overhead costs to be incurred in manufacturing the units in the production budget.
A plan that lists dollar amounts to be both received from disposing of plant assets and spent on purchasing additional plant assets to carry out the budgeted business activities.
A formal statement of future plans, usually expressed in monetary terms.
The practice of preparing budgets for a selected number of several periods and revising those budgets as each period is completed.
Premises:
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.
An accounting report that presents predicted amounts of the company's assets, liabilities, and equity as of the end of the budget period.
A plan showing the number of units to be produced each month.
A new set of budgets added to replace the ones that have lapsed as each budget period goes by.
A plan showing the units of goods to be sold and the sales to be derived; usually the starting point in the budgeting process.
A plan that lists the types and amounts of selling expenses expected during the budget period.
A plan that shows the predicted costs for direct materials, direct labor, and overhead costs to be incurred in manufacturing the units in the production budget.
A plan that lists dollar amounts to be both received from disposing of plant assets and spent on purchasing additional plant assets to carry out the budgeted business activities.
A formal statement of future plans, usually expressed in monetary terms.
The practice of preparing budgets for a selected number of several periods and revising those budgets as each period is completed.
Responses:
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