The budgeting process concludes with the preparation of the:
A) projected income statement.
B) sales forecast.
C) projected balance sheet.
D) capital expenditure budget.

Question

Quizplus · Accepted Answer

The budgeting process concludes with the preparation of the projected balance sheet, which shows the expected financial position of a company at the end of the budget period. The income statement and sales forecast are important components of the budgeting process but do not necessarily conclude it. The capital expenditure budget is a separate part of the budgeting process that focuses specifically on planned investments in long-term assets.

The Budgeting Process Concludes with the Preparation of The