Which one of the following is the last schedule to be prepared in a normal budget preparation process?
A)The selling expense budget.
B)The cash budget.
C)The cost of goods sold budget.
D)The direct labour budget.

Question

Quizplus · Accepted Answer

The cash budget is the last schedule to be prepared in a normal budget preparation process as it takes into consideration all the other budgets and summarizes the inflows and outflows of cash. The selling expense budget, cost of goods sold budget, and direct labour budget are prepared earlier as they are necessary for the preparation of other budgets such as the production budget and the budgeted income statement.

Which One of the Following Is the Last Schedule to Be