Which of the following is a correct definition of budget? Select one: a. A financial and/or quantitative statement, prepared and approved prior to define period of time, of the policy to be pursued during that period for the purpose of attaining a given objective b. A financial statement which reports the achieved and not achieved objectives of the company for a period of time.  c. A statement which includes the strategic objectives of a company to be achieved in the long term. d. A financial and/or quantitative statement, prepared and approved after a define period of time, of the policy pursued during that period for the purpose of evaluating the objectives achieved. Clear my choice

Q: Which of the following is part of the budget preparation process EXCEPT? a) Available resources b)…

A: Budget can be termed as estimation of Revenue and Expenses that can happen in a future. In a simple…

Q: Which budget evaluates the results of operations at the actual level of activity?   A) capital…

A: In a flexible budget, the actual level of activity is compared with the budgeted.

Q: Which is the mostly likely purpose of budgeting? a. Assess the non-financial performance of an…

A: Budgeting refers to preparing a plan or schedule in order to estimate the income that can be earned…

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A: Relative performance: It is related to the evaluation of the performance of an individual based on…

Q: Explain the term of operating budget.

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Q: What items are typically submitted as part of the budget or annual plan?  Marketing plan  Capital…

A: Types of Budget: Sales budget Purchase budget Production budget Cash budget Operational budget

Q: The "Cash Budget"   a)is used to predict future surpluses & shortages of cash, allowing the…

A: A Cash Budget is a detailed plan that shows the anticipated inflows and outflows of cash within a…

Q: which of the following is not a financial budget. a)capital expenditure budget b) manufacturing…

A: A financial budget is a plan for a company's expected financial activities over a specific period,…

Q: Which of the following is the cornerstone of the master budget? a. The selling and administrative…

A: Master Budget: It includes companies budget plan for purchases, production, overhead, cost of goods…

Q: Describe your understanding of budgets, both fixed and flexible, in the context of controlling and…

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Q: What is the purpose of a budget in financial management? a) To record and report financial…

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Q: CE Company reported the following information for 2022: Budgeted sales $1225000 $1310000 All sales…

A: “Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: [2] In the budgeting and planning process for a firm, which one of the following should be completed…

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A: Solutions- operating budgets are sales, production or manufacturing, labor, overhead, and…

Q: Which of the following statements is the intended goal or outcome of a traditional line-item budget?…

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Q: budgeted balance sheet sales budget production budget budgeted…

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Q: Why do the authors suggest that a thorough review of the firm’s chart of accounts, account…

A: The entire budgeting and planning exercise involves careful review and analysis of the revenues and…

Q: Which of the following is an example of an external report? Select one: a Budget b. Plan c Annual…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: With regards to financial statements, "pro forma" means  A) budgeted. B) prepared in advance. C)…

A: The pro forma means = A matter of form, It is prepared for presenting the financial projected…

Q: Which of the following statements is the intended goal or outcome of a performance budget?…

A: Introduction: Performance based budget are outcome oriented i.e., it involves setting targets to…

Q: Item 1 Which of the following is a budget used to project cash flow and likely cash shortfalls…

A: A cash budget is a financial tool that helps businesses and individuals manage their cash flow…

Q: A plan that shows tne cash balance on hang at the beginning of a budget period, expected cash flow…

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Q: Which of the following is a feature that distinguishes a traditional performance budget from other…

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Q: A company is planning to prepare Budget for the year 2022. In the budgeting and planning process,…

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A: Budget is the estimation of the expenditure which will be incurred for the period for which budget…

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Q: Which of the operating budgets is prepared first? Group of answer choices C. cash received budget D.…

A: Master Budget: It is the sum  of all lower-level budgets prepared  by a company's various functional…

Q: Which budget type is defined as a budget process that emphasizes the achievement of goals and…

A: Budgeting. It is the process of creating the plan to effectively spend the  money or utilize the…

Cash budget

A cash budget is an estimate of an organization's cash flow for the future period. A cash budget forecasts future cash receipts and payments from various sources for a fiscal year. A cash budget can be created once a month or once a week to determine the organization's cash position and ensure its performance in relation to the budget. It aids in determining whether the company has enough cash and cash equivalents to meet its operational needs in the future. If cash receipts are insufficient to cover future expenses, an organization may plan to obtain funds from other sources. After estimating the sales, purchase, and capital expenditure budgets for the year, management develops a cash budget. These budgets are created to ensure that an organization's cash flow is managed. It is important to note that only cash transactions are recorded when actual cash enters and exits an organization.