The preparation of which of the following is the final step in the preparation of the financial budget?

Question

Quizplus · Accepted Answer

The budgeted balance sheet is the final step in the preparation of the financial budget because it shows the expected financial position of the company at the end of the budget period, incorporating the figures from the operating budget and the cash budget. The master budget is a comprehensive budget that includes both operating and financial budgets, while the operating budgets and cash budget are preparatory steps leading up to the budgeted balance sheet.

The Preparation of Which of the Following Is the Final