What reports are affected by the budgeting process -

Question

Quizplus · Accepted Answer

Budgeting primarily affects income statements because it involves planning future income and expenses, which are directly reported in income statements. Balance sheets reflect a company's financial position at a specific point in time and are not directly affected by budgeting. Customer sales and supplier purchases summary reports detail specific transactions and are not directly influenced by the budgeting process.

What Reports Are Affected by the Budgeting Process -