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Question 1

provides provides information regarding the peso value and estimated number units of products to be sold or the value of services to be rendered in the future

Answer 1

sales budget

Question 2

the most important financial statement account considered in preparing this budget

Answer 2

sales

Question 3

schedule that provides information regarding the number of units that should be produced over a given accounting period based on expected sales and targeted level of ending inventories

Answer 3

production budget

Question 4

formula for production budget

Answer 4

expected sales plus ending in inventories minus beginning inventories

Question 5

divided into marketing and selling expenses and general and administrative expenses

Answer 5

operating budget

Question 6

most important account to forecast

Answer 6

sale

Question 7

this amount is more of a balancing figure or a squeeze figure

Answer 7

efn or external funds needed

Question 8

current asset used in the operation of a business

Answer 8

working capital

Question 9

difference between current asset and current liability

Answer 9

networking capital

Question 10

shows the expected cash receipts and disbursement for the accounting period

Answer 10

cash budget