Match the Definitions 1 Through 9 with the Correct Term

question 182

Multiple Choice

Match the definitions 1 through 9 with the correct term or phrase (a) through (i) .

-A formal statement of a company's future plans,usually expressed in monetary terms.

• 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

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Definitions:

Switching

The act of changing from one option, system, service, product, or company to another, often seen in customers changing providers or businesses changing suppliers or technologies.

Economic Order Quantity

A formula used by companies to determine the optimal order size that minimizes the total costs associated with inventory.

Carrying Cost

The total cost of holding inventory, which includes storage, insurance, depreciation, spoilage, and opportunity cost.

Fixed Cost

Costs that do not change with the volume of production or level of activity within a certain range.