Financial budgets include:a) Pro forma statements, a sales budget, and a cost of goods manufactured budget.b) A budgeted income statement and budgeted balance sheet only.c) A budgeted income statement, budgeted balance sheet, and cash budget.d) Pro forma statements, a capital expenditures budget, and a cash budget.

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Answered: Financial budgets include: a) Pro…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 16MC: Which of the following includes only financial budgets? capital asset budget, budgeted income...

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Financial budgets include:

a) Pro forma statements, a sales budget, and a cost of goods manufactured budget.
b) A budgeted income statement and budgeted balance sheet only.
c) A budgeted income statement, budgeted balance sheet, and cash budget.
d) Pro forma statements, a capital expenditures budget, and a cash budget.

Definition Definition Estimate of an organization's cash flow for a future period. A cash budget forecasts future cash receipts and payments from various sources for a fiscal year. A cash budget can be created once a month or once a week to determine the organization's cash position and ensure its performance in relation to the budget. It aids in determining whether the company has enough cash and cash equivalents to meet its operational needs in the future.

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