Use this list of terms to complete the sentences that follow.

1. Long-range plans
2. Master budget
3. Operating budgets
4. Sales forecast
5. Participative budgeting
6. Financial budgets

a. _______ establish goals for the company's sales and production personnel.
b. The ______ is a set of interrelated budgets that constitutes a plan of action for a specified time period.
c. _______ reduces the risk of having unrealistic budgets.
d. _______ include the cash budget and the budgeted balance sheet.
e. The budget is formed within the framework of a ________.
f. ________ contain considerably less detail than budgets.