Financial budgets must be completed before the operating budgets can be prepared.

Name: Financial budgets must be completed before the operating budgets can be prepared.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Operating budgets, which detail the income-generating activities of the business (like sales and production), are typically prepared before financial budgets, which outline the financial goals and the means to achieve them (like cash flow and capital expenditures).

Financial Budgets Must Be Completed Before the Operating Budgets Can