Why did we need to subtract any accruals on 1/1x9 from the Actual balances under Budget Basis and add any Accruals on 12/31/x9?
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Why did we need to subtract any accruals on 1/1x9 from the Actual balances under Budget Basis and add any Accruals on 12/31/x9?
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- Which one of the following is the incorrect statement regarding Budgets? Select one: a. Budget is qualitative statement of policy b. All are correct statement regarding budget. C. Budget is a predetermined statement d. Budget prepared for a defined period of time6. At the end of the fiscal year Encumbrances is closed to Budgetary Fund Balance with a credit. True or FalseWhy are budgets used if it's uncertain the actual revenues and expenses will match the estimated amounts?
- Which of the following is not included in the operating budget?Which is the budget state where expenditures exceed revenue? Group of answer choices Net Loss Balance Budget Surplus DeficitWhich of the following accounts would appear on a budgeted balance sheet? Multiple Cholce All of the choices are correct. Income tax expense. Accounts receivable. Sales commissions. Depreciation expense.
- What revenue sources allow this budget to be balanced in each year? What revenue source will have the greatest impact on the budget? What assumptions have been made with respect to revenue sources? What two expenditures will have the greatest impact upon the budget?Budget comparison schedules or statements are needed for which funds? Should the budgetary comparison schedules' real revenues and expenditures be presented in accordance with GAAP? Why are you or are you not?Which of the following appears on the budgeted balance sheet? * A. estimated sales B. estimated cost of goods sold C. estimated fixed selling expense D. estimated ending accounts receivable
- 39. When doing the budget, what is projected first? a) Census b) Expenses c) Reimbursement d) Labor hoursWhich of the following expenses would not appear on a selling and administrative expense budget? Indirect labor Depreciation Sales commissions Property taxesWhich of the following is an example of an external report? Select one: a. Budget b. Plan c. Annual report d. None of the above