Match the definitions 1 through 8 with the term or phrase a through h. a. Budget e. Master budget b. Top-down budgeting f. Budgetary slack c. Participatory budgeting g. Sales budget d. Cash budget h. Budgeted income statement 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.
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
Match the definitions 1 through 8 with the term or phrase a through h.
a. Budget e.
b. Top-down budgeting f. Budgetary slack
c. Participatory budgeting g. Sales budget
d.
1. Shows expected
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.
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