The first stage in the budgeting process is the preparation of a sales budget.

Question

Quizplus · Accepted Answer

The first stage in the budgeting process is indeed the preparation of a sales budget. This involves forecasting the expected sales revenue for the budget period based on historical data, market trends, and other factors that may impact customer demand. The sales budget serves as the foundation for developing other budgets, including production, purchasing, and capital expenditure budgets.

The First Stage in the Budgeting Process Is the Preparation