In our ACCT 202 course, new budget terminology was introduced. In the table below, select the term that best matches the description of its purpose as discussed in class and in your assigned readings. Definitions Terms 1. A formal statement of future plans, usually expressed in monetary terms. 2. Management's use of budgets to see that planned objectives are met. 3. A budgetary cushion used to meet performance targets. 4. A report that shows predicted balances of assets, liabilities and equity at the end of a budget period. 5. A report that shows predicted revenues and expenses for a budgeting period. 6. Planning future business actions and expressing them as formal plans. 7. Summarizes the effects of investing activities on cash. 8. Shows expected cash inflows and outflows and helps determine financing needs.