A budget that plans and reports investments in major assets to be depreciated over several years is called a balance sheet budget.

Question

Quizplus · Accepted Answer

A budget that plans and reports investments in major assets to be depreciated over several years is called a capital expenditure budget or a capital budget, not a balance sheet budget. A balance sheet is a financial statement that shows a company's assets, liabilities, and equity at a specific point in time, but it does not plan or report investments.

A Budget That Plans and Reports Investments in Major Assets