Which of the following is designed primarily for internal use by a company's managers (e.g., the production manager)?
A) Income statements
B) Statement of retained earnings
C) Budget
D) Balance sheets
E) Statements of cash flow

Question

Quizplus · Accepted Answer

A budget is a financial plan that outlines the expected revenues (income) and expenses for a specific period. It is designed primarily for internal use by a company's managers, including the production manager, to help them make informed decisions and allocate resources effectively. Income statements, statement of retained earnings, balance sheets, and statements of cash flow provide historical financial information and are used for external reporting purposes.

Which of the Following Is Designed Primarily for Internal Use