Match the Definitions 1 Through 9 with the Correct Term

question 119

Short Answer

Match the definitions 1 through 9 with the correct term or phrase a through i.
(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
________ (1) A plan that shows the units and dollars of merchandise to be purchased during the budget period.
________ (2) A managerial accounting report that shows predicted amounts of the company's assets, liabilities, and balances as of the end of the budget period.
________ (3) A plan that shows the expected sales units and the dollars from these sales.
(4) A managerial accounting report that shows predicted amounts of sales and expenses for the budget period.
________ (5) A quantity of inventory that provides protection against lost sales caused by unfulfilled demand from customers or delays in shipments from suppliers.
(6) A formal, comprehensive plan for a company's future that includes several individual budgets that are linked with each other to form a coordinated plan.
________ (7) A formal statement of a company's future plans, usually expressed in monetary terms.
________ (8) A plan that plans the predicted operating expenses not included in the selling expenses or manufacturing budgets.
________ (9) A plan that shows the expected cash inflows and cash outflows during the budget period.

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Definitions:

Non-Litigious

Matters or activities not involving litigation or legal proceedings.

Binding Arbitration

An arbitration agreement where the decision made by the arbitrator is legally binding and enforceable, similarly to a court judgment.

Distress

Seizure by a landlord of any property left by a tenant and holding it until the rent is paid or selling it to pay rent owing.

Relief against Forfeiture

Judicial intervention to protect against the loss of rights or property due to failure to meet legal obligations.