A ________ Helps Control Costs and Expenses and Evaluates Managers

question 119

Short Answer

A ________ helps control costs and expenses and evaluates managers' performance by assigning costs and expenses to the managers responsible for controlling them.

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Definitions:

Master Budget

The master budget is a comprehensive financial planning document that includes all of a company's budgeted financial statements and operating plans for a specific period.

Raw Materials

The basic materials and components used in the production processes of manufacturing goods.

Finished Goods Inventory

The completed products that are ready for sale but have not yet been sold.

Cash Collections

The process of gathering all monies owed to a company by its customers, reflecting inflow of cash.