Fill in the blanks in the following statements:
a. A firm has a cash surplus when its long term financing exceeds its [U]short term financing.The surplus is normally invested in marketable securities.
b. In developing the short-term financial plan, the financial manager starts with a(n) ________ budget for the next year. This budget shows the ________generated or absorbed by the firm's operations and also the minimum ________ needed to support these operations. The financial manager may also wish to invest in ________ as a reserve for unexpected cash requirements.