1. What is a budget? 2. What is participative budget? 3. Match the concept (by number) to the correct terminology. 1. Zero-based budget 2. Strategic budget 3. Operational Budget 4. Static budget 5. Flexible budget A budget prepared for only one level of sales volume. A long-term financial plan used to coordinate the activities needed to achieve the long- term goals of the company. A budget technique that requires managers to justify all revenue and expenses for each new period. A short-term financial plan used to coordinate the activities needed to achieve the short- term goals of the company. A budget prepared for various levels of sales volume