A company has prepared the operational budget and the cash budget and is now preparing the budgeted balance sheet. To provide the balance for Accounts payable, which document should be used?

Question

Quizplus · Accepted Answer

The balance for Accounts payable on the budgeted balance sheet is derived from the budgeted cash payments for purchases, as it reflects the amounts owed to suppliers for inventory or goods purchased on credit.

A Company Has Prepared the Operational Budget and the Cash