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Select the Term from the List of Terms That Best

Question 151

Matching

Select the term from the list of terms that best matches the description provided.

Premises:
This shows the inventory needs for each month.
This shows the projected financial condition of the company at the end of the budget period.
Comparison of actual results to budget expectations in order to evaluate employee and/or department performance.
Expected borrowing (financing activities) and related interest expense are shown in this budget.
This budget is the starting point for the entire master budget.
These are based on projected rather than historical information.
This provides an advance estimate of the expected profitability.
Responses:
Cash budget
Inventory purchases budget
Performance measurement
Pro forma balance sheet
Pro forma financial statements
Pro forma income statement
Sales budget

Correct Answer:

This shows the inventory needs for each month.
This shows the projected financial condition of the company at the end of the budget period.
Comparison of actual results to budget expectations in order to evaluate employee and/or department performance.
Expected borrowing (financing activities) and related interest expense are shown in this budget.
This budget is the starting point for the entire master budget.
These are based on projected rather than historical information.
This provides an advance estimate of the expected profitability.
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