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Presented Below Are Terms or Phrases Preceded by Letters (A)through

Question 214

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:

Responses:

A managerial accounting report that presents predicted amounts of the company's assets,liabilities,and equity as of the end of the budget period.

Cash budget

A plan that shows the expected cash inflows and outflows during the budget period

Sales budget

Additional monthly or quarterly budgets to replace the ones that have lapsed as each budget period goes by.

Rolling budgets

The practice of revising budgets as time passes.

Budgeted balance sheet

A formal statement of future plans,usually expressed in monetary terms.

Budget

A plan showing the expected sales units and dollars from the sales; the starting point in the budgeting process.

Continuous budgeting

A plan that shows expected activities and their levels for the budget period used to estimate resources required to perform the activities.

Capital expenditures budget

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.

Production budget

A plan that lists the types and amounts of selling expenses expected during the budget period.

Selling expense budget

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.

Activity-based budgeting

Premises:

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 plan that shows the expected cash inflows and outflows during the budget period

Additional monthly or quarterly budgets to replace the ones that have lapsed as each budget period goes by.

The practice of revising budgets as time passes.

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 shows expected activities and their levels for the budget period used to estimate resources required to perform the activities.

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.

A plan that lists the types and amounts of selling expenses expected during the budget period.

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.

Responses:

Cash budget

Sales budget

Rolling budgets

Budgeted balance sheet

Budget

Continuous budgeting

Capital expenditures budget

Production budget

Selling expense budget

Activity-based budgeting

Correct Answer:

Premises:

Responses:

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 plan that shows the expected cash inflows and outflows during the budget period

Additional monthly or quarterly budgets to replace the ones that have lapsed as each budget period goes by.

The practice of revising budgets as time passes.

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 shows expected activities and their levels for the budget period used to estimate resources required to perform the activities.

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.

A plan that lists the types and amounts of selling expenses expected during the budget period.

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.