When preparing the budgeted income statement,which of the following is the source for the amount of sales?
A) sales budget
B) purchases budget
C) operating expense budget
D) schedule of cash collections from customers

Question

Quizplus · Accepted Answer

The sales budget is the source for the amount of sales in a budgeted income statement as it provides an estimate of the expected sales revenue for the period. The other options listed, such as purchases budget and operating expense budget, are not used to determine sales revenue. The schedule of cash collections from customers may be used to estimate the timing and amount of cash receipts from sales, but it is not the source for the amount of sales revenue.

When Preparing the Budgeted Income Statement,which of the Following Is