?Which of the following statements is false about budgeted income statement and budgeted balance sheet .None of the given answers .a O The cash budget must be prepared first before preparing both the budgeted income statement and the .b O .budgeted balance sheet The ending finished goods inventory will be included in the budgeted balance sheet .c O The budgeted balance sheet must be prepared first before preparing the budgeted income statement .d O .Credit purchases will be included in the accounts payable in the budgeted balance sheet .e O
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
Step by step
Solved in 2 steps
