Question

Select the term from the list of terms that best matches the description provided. Your Answer...

Select the term from the list of terms that best matches the description provided.

Your Answer Definition or Description Term
A. This shows the inventory needs for each month. 1. Cash budget
B. This shows the projected financial condition of the company at the end of the budget period. 2. Inventory purchases budget
C. Comparison of actual results to budget expectations in order to evaluate employee and/or department performance. 3. Performance measurement
D. Expected borrowing (financing activities) and related interest expense are shown in this budget. 4. Pro forma balance sheet
E. This budget is the starting point for the entire master budget. 5. Pro forma financial statements
F. These are based on projected rather than historical information. 6. Pro forma income statement
G. This provides an advance estimate of the expected profitability. 7. Sales budget
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Answer #1

A. This shows the inventory needs for each month. 2. Inventory purchases budget

B. This shows the projected financial condition of the company at the end of the budget period.4. Pro forma balance sheet

C. Comparison of actual results to budget expectations in order to evaluate employee and/or department performance.3. Performance measurement

D. Expected borrowing (financing activities) and related interest expense are shown in this budget.1. Cash budget

E. This budget is the starting point for the entire master budget. 7. Sales budget

F. These are based on projected rather than historical information. 5. Pro forma financial statements

G. This provides an advance estimate of the expected profitability. 7. Sales budget

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