The flashcards below were created by user itzlinds on FreezingBlue Flashcards.

  1. the period of time during the calander year when the budget is made is called:
    budget cycle
  2. the period of time that a specific budget is implemented is called:
    fiscal year

    example: july 1 - june 30
  3. items such as salaries, administrative costs, office operations (supplies, phones, ect.) are called:
    operational budgets (short term)
  4. expendable & nonexpendable items are included in which type of short term budget:
    equipment/supplies & services budget
  5. items that cannot be reused, such as tape, 1st aid supplies, OTC meds, ect. are called:
    expendable items
  6. reusable items that still have a predetermined minimum lifespan for replacement, such as orthopedic appliances, elastic wraps, hand weights are called:
    nonexpendable items
  7. expenses to purchase supplies, equipment or services that have a known cost are called:
    fixed expenses
  8. an expense that varies throughout the budget & may require an estimate to cover the cost is called:
    variable expenses
  9. equipment purchases of sufficient expens that are beyond the limits of the annual budget are called:
    capital expenses or capital outlays
  10. in this type of budget, monies are maganged thru the year, if there is money remaining toward the end of the fiscal year, it is taken back and used toward other parts of the organization:
    limited budget
  11. monies not spend in one fiscal year roll over to the next in a budget called:
    rollover budget
  12. items plotted over the course of the fiscal year, allowing a view of resources expenditures over time is called:
    line item budget
  13. this type of budget allows for the specific subdivisions of an overall system to have separate accountability, called:
    program budget
  14. describe 2 advantages of the program budget:
    • allows for greater prioritizing of items
    • can tie budget areas directly to goals & objectives by better defining specific budget items
  15. an existing budget that either adds or subtracts a specific % based on available funds is called:
    incremental budget
  16. +
Card Set:
2014-10-09 02:22:28
405 exam1 budget
405_ exam1_budget
Show Answers: