Accounting 2 Chapter 8
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Limitations to self-imposed budgeting include:
1. budgetary slack 2. Suboptimal budget recommendations
planning and control
Budgets are used for what two purposes
one year
operating budgets generally cover a ______ ______ period
First step in the budgeting process is preparing the _______ budget
sales
production
the budgeted income statement does NOT rely on information from the _____ budget
Budgetary Slack
when a manager creates a budget that is to easy too easy to attain this happens:
Cash Disbursements Section
The section on the cash budget that summarizes all cash payments that are planned for the budget period