Multiple Choice Questions: 1) A company has prepar1d the operating budget and the cash budget and is
Question:
Multiple Choice Questions:
1) A company has prepar1d the operating budget and the cash budget and is now preparing the budgeted balance sheet. The balance of Inventory can be taken from:
A) Production budget and cost of goods sold budget.
B) The financial budget.
C) The cash budget.
D) The selling and administrative expenses budget.
2) A company has prepared the operating budget and the cash budget and is now preparing the budgeted balance sheet. The balance of Accounts Payable can be taken from:
A) The inventory, purchases and cost of goods sold budget.
B) The budgeted cash payments for purchases.
C) The cash budget.
D) The selling and administrative expenses budget.
3) A company has prepared the operating budget and the cash budget and is now preparing the budgeted balance sheet. The balance of retained earnings can be taken from:
A) The inventory, purchases and cost of goods sold budget.
B) The operating budget.
C) The cash budget.
D) The budgeted income statement plus the balance sheet from the prior year.
Accounting Business Reporting for Decision Making
ISBN: 9780730302414
4th edition
Authors: Jacqueline Birt, Keryn Chalmers, Albie Brooks, Suzanne Byrne, Judy Oliver