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Chapters 1-4 The Accounting Cycle
Chapters 5-8 Current Assets
Chapters 9-11 Long-Term Assets
Chapters 12-14 Liabilities/Equities
Chapters 15-16 Using Information
- Chapter 15: Financial Reporting and Concepts
- Chapter 16: Financial Analysis and the Statement of Cash Flows
Chapters 17-20 Managerial/Cost
Chapters 21-24 Budgeting/Decisions

Chapter 21 - Fill in the Blanks

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Question 1 of 10

1. Question
A ____________ is a formal quantitative expression of management expectations.
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Question 2 of 10

2. Question
With the ____________ approach, upper-level executives can study the interactions of lower units and determine the consistency of each unit’s plans and expectations.
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3. Question
The ____________ method is time consuming and expensive to administer because of increased employee involvement.
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Question 4 of 10

4. Question
In contrast to incremental budgeting, ____________ requires that each expenditure be rejustified for each budget period.
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Question 5 of 10

5. Question
A ____________ budget is a comprehensive set of integrated budgets that serve as the financial plan for the entire organization.
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Question 6 of 10

6. Question
The ____________ budget is probably the most important element of a master budget.
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Question 7 of 10

7. Question
The ____________ budget incorporates all production costs other than direct material and direct labor.
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Question 8 of 10

8. Question
In a cash budget, the ____________ section discloses the total cash available during the period before considering any disbursement.
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Question 9 of 10

9. Question
In a cash budget the ____________ section provides a schedule of borrowings and repayments and also discloses the related interest payment on borrowed funds.
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Question 10 of 10

10. Question
A budgetary restriction occurring in advance of the related expenditure is often known as an ____________.
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Illustrative Entries

Examples of journal entries for numerous sample transactions

Account Types

Typical financial statement accounts with debit/credit rules and disclosure conventions

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Includes financial and managerial terms

Time Value of Money

Future and present value tables

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Chapters 1-4
Chapters 5-8
Chapters 9-11
Chapters 12-14
Chapters 15-16
- Chapter 15: Financial Reporting and Concepts
- Chapter 16: Financial Analysis and the Statement of Cash Flows
Chapters 17-20
Chapters 21-24
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