Which of the following budgets focuses on the income statement and its supporting schedules?

Question

Quizplus · Accepted Answer

The operating budget focuses on the income statement and its supporting schedules, such as the cost of goods sold, gross profit, operating expenses, and net income. The cash budget focuses on forecasting cash inflows and outflows, while the capital expenditures budget focuses on planned investments in long-term assets. The sales budget focuses on forecasting sales revenue for a specific period.

Which of the Following Budgets Focuses on the Income Statement