The operating budget process generally concludes with the preparation of the ________.
A) production budget
B) cash flow statement
C) balance sheet
D) budgeted income statement

Question

Quizplus · Accepted Answer

The operating budget process ultimately results in the preparation of a budgeted income statement, which summarizes expected revenues and expenses for a specific period. This statement is one of the primary financial statements prepared by a company and is used to monitor performance and make informed business decisions. The production budget focuses on expected levels of production and is just one component of the overall operating budget. The cash flow statement and balance sheet are also important financial statements but are not typically prepared as part of the operating budget process.

The Operating Budget Process Generally Concludes with the Preparation of the ________