A company has prepared the operating budget,the cash budget,and the budgeted income statement and is now preparing the budgeted balance sheet.The balance of Retained Earnings can be taken from the ________.

Question

Quizplus · Accepted Answer

The balance of Retained Earnings can be taken from the budgeted income statement and the balance sheet of the previous year, as this will show the accumulated profits or losses from the previous year that were either retained or distributed to shareholders. The other options (A, B, and C) do not provide information about Retained Earnings.

A Company Has Prepared the Operating Budget,the Cash Budget,and the Budgeted