Match the phrase that follows with the term (a-e) it describes.

Question 16 options:

12345	integrated set of operating and financing budgets for a period of time
12345	shows expected results at several activity levels
12345	begins by estimating the quantity of sales
12345	shows expected results at only one activity level
12345	estimates the number of units to be manufactured to meet sales and inventory levels

1.	static budget
2.	flexible budget
3.	master budget
4.	sales budget
5.	production budget