You may use a term more thanonce, and some terms may not be used at all.

Listed next are several terms. Complete the following statements with one of these terms. You may use a term more than once, Next Question y not be used at all. Budget committees Participative budgeting Slack Financial budgets Production budget Strategic planning Master budget Rolling budget Variance Operating budgets Safety stock Zero-based budgeting a. V is extra inventory of nished goods that is kept on hand in case demand is higher than predicted or problems in the factory slow production. b. Managers will sometimes build V into their budgets to protect themselves against unanticipated expenses or lower revenues. c. The sales budget and production budget are examples of i . d. The W is used to forecast how many units should be made to meet the sales projections. is a budgeting process that begins with departmental managers and ows up through middle management to top management. 7" 7i |