Match the definitions 1 through 9 with the correct term or phrase a through i.
(a) Master budget
(b) General and administrative expense budget
(c) Budget
(d) Safety stock
(e) Budgeted income statement
(f) Budgeted balance sheet
(g) Sales budget
(h) Cash budget
(i) Merchandise purchases budget
________ (1) A plan that shows the units and dollars of merchandise to be purchased during the budget period.
________ (2) A managerial accounting report that shows predicted amounts of the company's assets, liabilities, and balances as of the end of the budget period.
________ (3) A plan that shows the expected sales units and the dollars from these sales.
(4) A managerial accounting report that shows predicted amounts of sales and expenses for the budget period.
________ (5) A quantity of inventory that provides protection against lost sales caused by unfulfilled demand from customers or delays in shipments from suppliers.
(6) A formal, comprehensive plan for a company's future that includes several individual budgets that are linked with each other to form a coordinated plan.
________ (7) A formal statement of a company's future plans, usually expressed in monetary terms.
________ (8) A plan that plans the predicted operating expenses not included in the selling expenses or manufacturing budgets.
________ (9) A plan that shows the expected cash inflows and cash outflows during the budget period.
Correct Answer:
Verified
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q157: Use the following information to determine
Q158: Zhang Industries budgets production of 300 units
Q159: Zhang Industries is preparing a cash budget
Q160: Ratchet Manufacturing's August sales budget calls for
Q161: Flagstaff Company has budgeted production units for
Q163: On its December 31, 2017, balance sheet,
Q164: List the three important guidelines that should
Q165: Webster Corporation is preparing its cash budget
Q167: What is a sales budget? How is
Q184: Why is the sales budget usually prepared
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents