When preparing a budgeted balance sheet,the balance for the inventory account is found on the ________.
A) sales budget
B) cash budget
C) operating expense budget
D) purchases and cost of goods sold budget

Question

Quizplus · Accepted Answer

The purchases and cost of goods sold budget is where the budgeted balance for the inventory account can be found, as it tracks the expected purchases of inventory and the cost of goods sold during the budget period.

When Preparing a Budgeted Balance Sheet,the Balance for the Inventory