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

First step in the budgeting process is preparing the _______ budget

sales

production

the budgeted income statement does NOT rely on information from the _____ budget

Cash Disbursements Section

The section on the cash budget that summarizes all cash payments that are planned for the budget period

one year

operating budgets generally cover a ______ ______ period

Budgetary Slack

when a manager creates a budget that is to easy too easy to attain this happens:


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