Choose each of the terms with the best description of its purpose. Terms Definitions
1. Shows expected cash inflows and outflows and helps determine financing needs.
2. A plan showing units to be sold; the usual starting point in the master budget process
3. A report that shows predicted revenues and expenses for a budgeting period
4. A formal statement of future plans, usually expressed in monetary terms.
5. Approach in which top management passes down a budget without employee input.
6. A budgetary cushion used to meet performance targets.
7. A comprehensive business plan that includes operating investing, and financing budgets.
8. Employees affected by a budget help in preparing it.
The terms are:
a- Budget
b- Budgeted balance sheet
c- Budgeted income statement
d- Cash Budget
e- General and administrative expense budget
f- Master budget
g- Merchandise purchases budget
h- Safety stock
i- Sales budget