A managerial accounting report that presents predicted amounts of the company's assets, liabilities, and equity as of the end of the budget period is called a(n):
A) Rolling balance sheet.
B) Continuous balance sheet.
C) Budgeted balance sheet.
D) Cash balance sheet.
E) Operating balance sheet.

Question

Quizplus · Accepted Answer

A budgeted balance sheet is a managerial accounting report that presents predicted amounts of the company's assets, liabilities, and equity as of the end of the budget period. A rolling or continuous balance sheet shows the accounting balances of a company on a continuous basis, and a cash or operating balance sheet focuses only on the company's cash and operating activities, not its overall assets, liabilities, and equity.

A Managerial Accounting Report That Presents Predicted Amounts of the Company's