The first step in preparing the operating budget is preparing the:

Name: The first step in preparing the operating budget is preparing the:
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The sales budget is the first step in preparing the operating budget as it outlines the expected revenue for the budget period. The other budgets, such as the purchases budget and cash budget, are built upon the sales budget. The budgeted income statement is typically prepared after the sales budget has been completed.

The First Step in Preparing the Operating Budget Is Preparing