Select each of the terms with the best description of its purpose.1. Helps determine financing needs.Definitions2. The usual starting point in the master budget process.3. A report that shows predicted revenues and expenses for a budgeting period.4. A budgetary cushion used to meet performance targets.5. A comprehensive plan that consists of several budgets that are linked.6. Employees affected by a budget help in preparing it.Terms

Cash budget: This budget helps determine financing needs by forecasting cash inflows and outflows…

Answered: Select each of the terms with the best…

Excel Applications for Accounting Principles

4th Edition

ISBN:9781111581565

Author:Gaylord N. Smith

Publisher:Gaylord N. Smith

Chapter23: Flexible Budgeting (flexbud)

Section: Chapter Questions

Problem 3R

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Similar questions

Which of the following is true in a bottom-up budgeting approach? Every expense needs to be justified. Supervisors tell departments their budget amount and the departments are free to work within those amounts. Departments budget their needs however they see fit. Departments determine their needs and relate them to the overall goals.
Which of the following includes only financial budgets? capital asset budget, budgeted income statement, sales budget production budget, capital asset budget, budgeted balance sheet cash budget, budgeted balance sheet, capital asset budget budgeted income statement, direct material purchases budget, cash budget
Which of the operating budgets is prepared first? A. production budget B. sales budget C. cash received budget D. cash payments budget
A company has prepared the operating budget and the cash budget. It is now preparing the budgeted balance sheet. Identify the document that contains each of these balances. A. cash B. accounts receivable C. finished goods inventory D. accounts payable E. equipment purchases
Prepare a budgeted income statement using the information shown.
Identify the document that contains the information listed in these lines from the budgeted balance sheet shown. Cash Accounts receivable Raw materials inventory Computers Accounts payable
The budget committee a. reviews the budget. b. resolves differences that arise as the budget is prepared. c. approves the final budget. d. is directed (typically) by the controller. e. All of these.
Explain how a budgeted income statement for a service business may be used for both planning and control purposes.
Why is a clear understanding of managements goals and objectives necessary for effective budgets?
If management is being evaluated on their ability to manage a budget, what can they do to increase cash flow?
Which approach requires management to justify all its expenditures? A. bottom-up approach B. zero-based budgeting C. master budgeting D. capital allocation budgeting
Which of the following describes the order in which the four types of budgets must be prepared? a. Production, sales, direct materials purchases, cash received on account b. Sales, production, direct materials purchases, cash budget c. Cash receipts, direct labor, production, sales d. Sales, direct materials purchases, production, cash disbursements

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