Complete the following statements with one of these terms. You may use a term more than once, and some terms may not be used at all.

Budget committees Financial budgets Master budget
Operating budgets Participative budgeting Production budget
Rolling budget Safety stock Slack Strategic planning
Variance Zero-based budgeting

a. is a budget that is continuously updated by adding months to the end of the budgeting period.
b. is the comprehensive planning document for the entire organization.
c. These budgets, project both the collection and payment of cash and forecast the company's budgeted balance sheet.
d. The is used to forecast how many units should be made to meet the sales projections.
e. When an organization builds its budgets from the ground up, it is using
f. is the process of setting long-term goals that may extend several years into the future.