answer choices for each one

Exercise 20-2 Budget definitions LO C1 Select each of the terms with the best description of its purpose. Terms Definitions 1. A comprehensive business plan that includes operating, investing, and financing budgets. 2. Employees affected by a budget help in preparing it. 3. Shows the number of units for a manufacturer to produce in a period. 4. Budgets that are revised by adding a new quarterly budget to replace the quarter that just elapsed. 5. A plan showing units to be sold; the usual starting point in the master budget process. 6. Approach in which top management passes down a budget without employee input. 7. An approach that requires all expenses to be justified for each new budget. 8. Employees who will be evaluated by a budget help prepare it Terms ed. Master budget Participatory budgeting Production budget Rolling budget Terms Rolling budget Sales budget Top-down budgeting Zero-based budget Bottom-up budgeting