Budgets identify, gather, summarize, and communicate

a. financial data only.

b. financial and nonfinancial data.

c. nonfinancial data only.

d. None of these answer choice are correct.

Financial budgets include

a. pro forma financial statements, a sales budget, and a cost of goods manufactured budget.

b. a budgeted income statement and budgeted balance sheet only.

c. a budgeted income statement, budgeted balance sheet, and cash budget.

d. pro forma financial statements, a capital expenditures budget, and a cash budget.

A combined set of operational budgets and a set of financial budgets for the entire organization is known as a

a. master budget.

b. flexible budget.

c. month-to-month budget.

d. constant budget.