The cash budget and the budgeted income statement can be used to prepare two other summary financial statements-the budgeted balance sheet and the budgeted ________.

Question

Quizplus · Accepted Answer

The cash budget and the budgeted income statement provide information about cash inflows and outflows, as well as expected revenues and expenses. This information can be used to prepare the budgeted balance sheet, which summarizes the assets, liabilities, and equity of the organization as of the end of the budget period. The budgeted cash flows can also be used to prepare the statement of cash flows, which shows the sources and uses of cash during the budget period. The bank statement and operating budget are not directly related to the preparation of these summary financial statements.

The Cash Budget and the Budgeted Income Statement Can Be