The operating budget process generally concludes with the preparation of the ________.

Question

Quizplus · Accepted Answer

The operating budget process usually ends with the formation of a budgeted income statement, which estimates the organization's revenues and expenses for a certain period. The production budget outlines the number of units that need to be produced, the research and development budget outlines the funds that will be utilized for research and development activities, and the cash flow statement outlines the inflows and outflows of cash over a particular duration. While all of these are important components of the budgeting process, the budgeted income statement involves determining the overall financial health of the organization, making it essential to conclude the budget process.

The Operating Budget Process Generally Concludes with the Preparation of the ________