Which one of the following is a source of information used to prepare the budgeted income statement?
A)cash budget
B)budgeted balance sheet
C)capital expenditures budget
D)selling and administrative expense budget

Question

Quizplus · Accepted Answer

The selling and administrative expense budget provides information on the expected expenses for the upcoming period, which can be used to prepare the budgeted income statement. The cash budget provides information on expected cash inflows and outflows, while the budgeted balance sheet provides information on expected assets, liabilities, and equity at a particular point in time. The capital expenditures budget provides information on expected expenditures on long-term assets.

Which One of the Following Is a Source of Information