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question 99

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Select the term from the list provided that best matches the description provided.  Your Answer  Definition or Description  Term  A. Composed of numerous separate but  interdependent departmental budgets covering sales,  production, and administrative expenses  1. Budgeting  B. Budgeting technique that allows subordinates and  upper-level managers to work together in setting  budgetary targets  2. Capital budget  C. Financial planning activities that cover the  intermediate range of time (such as whether to buy or  lease equipment)  3. Pro forma financial  statements  D. Activities associated with long-range decisions  such as defining the scope of the business and  deciding which products to develop  4. Budget committee  E. Budgeted financial statements  5. Master budget  F. The group of individuals responsible for the  coordination of budgeting activities  Operating budget  G. Examples of these budgets include sales budget,  inventory purchases budget, and cash budget  7. Strategic planning  H. Budgeting technique that keeps managers  constantly involved in the budget process  8. Participative budgeting  I. Form of planning that formalizes goals and  objectives of a company in financial terms  9. Perpetual budgeting \begin{array} { | l | l | l | } \hline \text { Your Answer } & \text { Definition or Description } & \text { Term } \\\hline & \begin{array} { l } \text { A. Composed of numerous separate but } \\\text { interdependent departmental budgets covering sales, } \\\text { production, and administrative expenses }\end{array} & \text { 1. Budgeting } \\\hline & \begin{array} { l } \text { B. Budgeting technique that allows subordinates and } \\\text { upper-level managers to work together in setting } \\\text { budgetary targets }\end{array} & \text { 2. Capital budget } \\\hline & \begin{array} { l } \text { C. Financial planning activities that cover the } \\\text { intermediate range of time (such as whether to buy or } \\\text { lease equipment) }\end{array} & \begin{array} { l } \text { 3. Pro forma financial } \\\text { statements }\end{array} \\\hline & \begin{array} { l } \text { D. Activities associated with long-range decisions } \\\text { such as defining the scope of the business and } \\\text { deciding which products to develop }\end{array} & \text { 4. Budget committee } \\\hline & \text { E. Budgeted financial statements } & \text { 5. Master budget } \\\hline & \begin{array} { l } \text { F. The group of individuals responsible for the } \\\text { coordination of budgeting activities }\end{array} & \text { Operating budget } \\\hline & \begin{array} { l } \text { G. Examples of these budgets include sales budget, } \\\text { inventory purchases budget, and cash budget }\end{array} & \text { 7. Strategic planning } \\\hline & \begin{array} { l } \text { H. Budgeting technique that keeps managers } \\\text { constantly involved in the budget process }\end{array} & \text { 8. Participative budgeting } \\\hline & \begin{array} { l } \text { I. Form of planning that formalizes goals and } \\\text { objectives of a company in financial terms }\end{array} & \text { 9. Perpetual budgeting } \\\hline\end{array}


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