A managerial accounting report that presents predicted amounts of the company's revenues and expenses for the budget period is called a:
A) Budgeted income statement.
B) Budgeted balance sheet.
C) Master plan.
D) Rolling income statement.
E) Continuous income statement.

Question

Quizplus · Accepted Answer

A budgeted income statement is a managerial accounting report that presents the predicted amounts of a company's revenues and expenses for a budget period. It helps organizations to plan and control their financial resources by comparing actual results with budgeted results, and taking corrective action when necessary. The other options are not accurate descriptions of this type of report.

A Managerial Accounting Report That Presents Predicted Amounts of the Company's