y leldting to Each of the following ten statements includes a pair of words within parenthesis. Indicate should be chosen to make the statement true. The first statement is done as an exa which of the pl A (loan application/ budget) is a detailed financial plan that quantifies future actions relative to acquiring and using resources. 1. ex pectatio ons and Sca trie 2. Budgets (should/ should not) be used to provide managers with "preapproval" for 3. The (master budget/sales budget) is a comprehensive document specifying sales targets, produr 4. "Responsibility accounting" is a concept under which managers are held accountable for transa 5. Some entities will follow a top-down (mandated/participative) approach to budgeting. 6. A deliberate effort to create "breathing room" within a budget is known as ("padding the budget 7. With (incremental budgeting /zero-based budgeting), each expenditure item must be justieo execution d spending plans. So th tion activities, and financing actions tions and events (beyond/under) their direct influence and control. /"aerating") for the new budget period The starting point for the master budget is an assessment of anticipated (sales/pro oduction ) 9. This comes before the other: (production budget/materials purchases budget ). A (static budget/ flexible budget) is not designed to change with changes in activity level 10