Following are a number of key terms and concepts introduced in the chapter, along with a list of corresponding definitions. Match the appropriate letter for the key term or concept to each definition provided (items 1–12). Note that not all key terms and concepts will be used.
a. Budgeting | i. Cash budget |
b. Top-down budgeting | j. Committed cost |
c. Participative budgeting | k. Discretionary cost |
d. Zero-based budgeting | l. Standard cost |
e. Single-period budget | m. Ideal (or engineered) standard |
f. Rolling (or continuous) budget | n. Attainable standard |
g. Operating budget | o. Past experience standard |
h. Budget slack (or budget padding) | p. Predetermined overhead application rate |
_______A budget that is prepared for several periods in the future and that is revised several times prior to the budget period.
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