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114.     Leads to long-range planning but does not deal with a specific time frame nor produce forecasted financial statements

115.     Includes decisions to add or delete a product line or acquire buildings or equipment

116.     A budget that details the planned expenditures for facilities, equipment, new products, and other long term investments

117.     Includes the operating budget and the financial budget

118.     A common form of master budget that adds a month in the future as the month just ended is dropped

119.     Another name for continuous budget

120.     Another term for forecasted financial statement

121.     Another name for an operating budget

122.     A major part of a master budget that focuses on the income statement and its supporting schedules

123.     The part of the master budget that focuses on the effects that the operating budget and other plans (such as capital budgets and repayments of debt) will have on cash

124.     This budget is needed for the sales budget, purchases budget, and cost-of-goods-sold budget

125.     This budget is the last budget that is constructed


126.     The first budget in the budgeting process

127.     Desired ending inventory + cost of goods sold – beginning inventory


128.     Statement of planned cash receipts and disbursements


129.     A prediction of sales under a given set of conditions

130.     The result of decisions to create the conditions that will generate a desired level of sales


131.     These budgets are created with the active participation of all affected employees

132.     The budgeting process that focuses on preparing the budgets for various functions such as production, selling, and administrative support

133.     Budgets that focus on the budgeted cost of activities required to produce and sell products and services


134.     Allows managers to assess the predicted impacts of various alternatives before final decisions are selected

135.     Another term for “What-if?” analysis

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