Match the Terms with the following Sentences:

List of possible Terms:

A: Planning For

B: Direct Costs

C: Risk

D: Cost Centre

E: Strategic Goals

F: Capital

G: Quantitative and Qualitative

H: Bottom

I: Combination

J: "Operating"

K: Long-Term

L: Fixed

M: Top

N: Directly

O: Implementation

P: Likely

Q: Internal Controls

R: Indirect

Match the above Terms to the following Statements:

1: Budgeting experts suggest that organizations take a ____approach that includes elements of both a ____ down and a ____ up approach to budgeting

2: A(n) ____ budget expresses the organizations ____ in financial terms.

3: A(n) ____ budget finances the needs of ____ assets.

4: Organizational expenses consist of ____ and direct costs that are both ____ and variable.

5: ____ consist of the product or services raw materials and the staffing involved in making it available.

6: Overhead costs are ones that cannot be ____ attributed to the production of the companys product or service.

7: An example of a ____ is when the human resources manager is tasked with the expenses associated with a training program.

8: Separation of duties, regular monitoring of budgetary expenses, and a conflict of interest policy are all examples of ____

9: Financial forecasting is important to a company because it reduces ____

10: Forecasting is critical for top level managers so they can adequately plan for ____ of strategic goals and ____ capital expenditures.

11: While forecasting is simply estimating the amount of money the company will take in and spend over the course of a budget year, the process involves the use of both ____ measures

12: Often, budget forecasters will create a pessimistic, an optimistic, and a ____ budget.