All of the following budgets are prepared by service companies except

Name: All of the following budgets are prepared by service companies except
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Cost of goods sold, inventory, and purchases are budgeted by manufacturing and merchandising companies because they involve the purchase and sale of tangible goods. Service companies, on the other hand, provide intangible services, so they do not have these types of budgets. Instead, they prepare budgets for cash flow, operating expenses, and sales.

All of the Following Budgets Are Prepared by Service Companies