Accounting 2 Chapter 8

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