The ________ budget is a major part of the master budget and results with the income statement and its supporting schedules.

Question

Quizplus · Accepted Answer

The operating budget is a comprehensive financial plan that outlines the expected revenues and expenses for a particular period. It includes sales, production, and cost of goods sold budgets that translate into the income statement and supporting schedules, such as the cash budget and the budgeted balance sheet. The cash budget deals with the company's cash inflows and outflows, and the capital expenditures budget outlines the expected investments in fixed assets. The financial budget incorporates all other budgets and results in pro forma financial statements, including the balance sheet, income statement, and cash flow statement.

The ________ Budget Is a Major Part of the Master