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involves gathering feedback to ensure that the plan is being properly executed or modified as circumstances change

Accounting

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1. involves gathering feedback to ensure that the plan is being properly executed or modified as circumstances change.
2. A ________ or ______________ is a 12-month budget that rolls forward one month (or quarter) as the current month (or quarter) is completed. In other words, one month (or quarter) is added to the end of the budget as each month (or quarter) comes to a close.
3. A ______________ budget is a budget that is prepared with the full cooperation and participation of managers at all levels.
4. The ______________ consists of a number of separate but interdependent budgets that formally lay out the company's sales, production, and financial goals.
5. A __________ is a detailed plan showing how cash resources will be acquired and used.
6. The ______________ lists the number of units that must be produced to satisfy sales needs and to provide for the desired ending finished goods inventory.
7. If it were a merchandising company, instead it would prepare a __________ showing the amount of goods to be purchased from suppliers during the period.
8. The ____________ details the raw materials that must be purchased to fulfill the production budget and to provide for adequate inventories.
9. The __________________ lists the budgeted expenses for areas other than manufacturing. In large organizations, this budget would be a compilation of many smaller, individual budgets submitted by department heads and other persons responsible for selling and administrative expenses
10. A ___________ is prepared before the period begins and is valid for only the planned level of activity