A managerial accounting report that presents predicted amounts of the company's revenues and expenses for the budget period is called a:
A)Budgeted income statement.
B)Budgeted balance sheet.
C)Master plan.
D)Rolling income statement.
E)Continuous profit statement.

Question

Quizplus · Accepted Answer

A budgeted income statement is a managerial accounting report that presents predicted amounts of the company's revenues and expenses for the budget period. It is a projection of the company's financial performance for a specific period, typically a year or a quarter. The budgeted income statement helps managers to plan and control the company's operations, set goals, allocate resources, and measure performance against targets. The other options (B) Budgeted Balance Sheet, (C) Master Plan, (D) Rolling Income Statement, and (E) Continuous Profit Statement do not accurately describe a report that presents predicted amounts of the company's revenues and expenses for the budget period.

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