Presented Below Are Terms or Phrases Preceded by Letters (A)through

question 70

Short Answer

Presented below are terms or phrases preceded by letters (a)through (j)and followed by a list of definitions 1 through 10.Match the correct definitions with the terms or phrases by placing the letter of the term or phrase in the answer space provided at the beginning of the definition.
(a)Budget
(b)Capital expenditure budget
(c)Manufacturing budget
(d)Sales budget
(e)Production budget
(f)Cash budget
(g)Budgeted balance sheet
(h)Continuous budgeting
(i)Selling expense budget
(j)Rolling budgets
_____ (1.) A plan that lists the types and amounts of selling expenses expected during the budget period.
_____ (2.) A plan that shows the predicted costs for direct materials,direct labor,and overhead costs to be incurred in manufacturing the units in the production budget.
_____ (3.) An accounting report that presents predicted amounts of the company's assets,liabilities,and equity as of the end of the budget period.
_____ (4.) A formal statement of future plans,usually expressed in monetary terms.
_____ (5.) A plan showing the units of goods to be sold and the sales to be derived; usually the starting point in the budgeting process.
_____ (6.) A plan that lists dollar amounts to be both received from disposing of plant assets and spent on purchasing additional plant assets to carry out the budgeted business activities.
______ (7.) The practice of preparing budgets for a selected number of several periods and revising those budgets as each period is completed.
______ (8.) A plan showing the number of units to be produced each month.
______ (9) A plan that shows the expected cash inflows and outflows during the budget period,including receipts from loans needed to maintain a minimum cash balance and repayments of such loans.
______ (10) A new set of budgets added to replace the ones that have lapsed as each budget period goes by.

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Definitions:

Federal Government Legislation

Laws and regulations enacted by the national government of a country.

Earmarks

Provisions within legislation that allocate funds to specific projects, often bypassing the competitive or merit-based allocation process.

Authorized Expenditures

Expenses that have been approved for payment under the terms of a contractual agreement or budgetary consideration.

Spending Legislation

Legislation that dictates how government funds are to be spent, often detailing specific allocations for public sector initiatives and programs.