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Presented below is a list of items relating to the operating budget, followed by definitions of those terms: Buttom-up budgeting Budgeted balance sheet Cash payments

Presented below is a list of items relating to the operating budget, followed by definitions of those terms: Buttom-up budgeting Budgeted balance sheet Cash payments schedule Cost of goods sold budget Imposed budget Master budget Participative budget Sales budget Selling and administrative expense budget Zero-based budget Required: Match the letter next to each term on the list with the appropriate definition. Each letter will be used only once. ___ A budget in which upper management sets figures for all operating activities that the rest of the company rarely, if ever, can negotiate. ___ A budget for a specific period, usually 1 to 5 years, that establishes who Is responsible for the day-to-day operation of

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