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Match Each Phrase That Follows with the Term (A-E) It

Question 181

Matching

Match each phrase that follows with the term (a-e) it describes.

Premises:

Responses:

plans an important role for organizations in planning, directing, and controlling a company's future goals

sales budget

occurs when employee self-interests are different from company goals

budgeted balance sheet

a plan that lists dollar amounts to be both spent on purchasing additional pant assets to carry out the budgeted business activities

directing

shows expected results at only one activity level

production budget

integrated set of operating and financing budgets for a period of time

planning

compares actual performance against budgeted goals

goal conflict

actions to achieve budgeted goals

capital expenditures budget

shows expected results at several activity levels

static budget

estimates the number of units to be manufactured to meet sales and inventory levels

budget

begins by estimating the quantity of sales

cash budget

occurs when budgets are too loose

budget slack

a plan showing the units of goods to be sold and the sales to be derived; usually the starting point in the budgeting process

flexible budget

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

master budget

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

controlling

setting goals

a plan showing the number of units to be produced each month

Premises:

plans an important role for organizations in planning, directing, and controlling a company's future goals

occurs when employee self-interests are different from company goals

a plan that lists dollar amounts to be both spent on purchasing additional pant assets to carry out the budgeted business activities

shows expected results at only one activity level

integrated set of operating and financing budgets for a period of time

compares actual performance against budgeted goals

actions to achieve budgeted goals

shows expected results at several activity levels

estimates the number of units to be manufactured to meet sales and inventory levels

begins by estimating the quantity of sales

occurs when budgets are too loose

a plan showing the units of goods to be sold and the sales to be derived; usually the starting point in the budgeting process

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 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

setting goals

a plan showing the number of units to be produced each month

Responses:

sales budget

budgeted balance sheet

directing

production budget

planning

goal conflict

capital expenditures budget

static budget

budget

cash budget

budget slack

flexible budget

master budget

controlling

Correct Answer:

Premises:

Responses:

plans an important role for organizations in planning, directing, and controlling a company's future goals

occurs when employee self-interests are different from company goals

a plan that lists dollar amounts to be both spent on purchasing additional pant assets to carry out the budgeted business activities

shows expected results at only one activity level

integrated set of operating and financing budgets for a period of time

compares actual performance against budgeted goals

actions to achieve budgeted goals

shows expected results at several activity levels

estimates the number of units to be manufactured to meet sales and inventory levels

begins by estimating the quantity of sales

occurs when budgets are too loose

a plan showing the units of goods to be sold and the sales to be derived; usually the starting point in the budgeting process

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 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

setting goals

a plan showing the number of units to be produced each month