In the budget of receipts and disbursements, it is not important the moment in which the income and expenses occur according to the NIF, but the moment in which they are converted into receipts and disbursements. True or false?

Q: Which of the following statements about budgeting is incorrect? a. Budgets provide direction and…

A: a ) Budgets provide direction and coordination.      This statement is correct because budgeting…

Q: Which of the following is NOT correct about budgetary control. Select one: a. It is a legally…

A: Ans. Budgetary control is an important aspect for companies for proper planning and control of the…

Q: Government organizations and not-for-profit organizations (NPOs) are largely governed by their…

A: SOLUTION- BUDGET REFERS TO A STATEMENT MADE BASED ON THE ESTIMATION OF REVENUE AND EXPENSES INCURRED…

Q: A Budget deficit is a. The excess of revenues over expenditures for a particular year b. The excess…

A: A financial health of a country is judged by the revenues and the expenditures made in a particular…

Q: The capital expenditures budget is derived from the Operating budget and the financing budgets?…

A: A capital expenditure budget is a formal plan that states the amounts and timing of fixed asset…

Q: Which of the following statements is incorrect? * O An imposed budget is the same as a participative…

A: Answer: Budget is the statement that is prepared for revenue and expenses as an estimation made by…

Q: When expenses are more than revenue the budget has a : which answer is correct? A. Balance B. Debit…

A: Introduction: Budgeting is a collection of tasks done to plan a budget. A budget is a quantitative…

Q: ?Which of the following statements is false about budgeted income statement and budgeted balance…

A: Budgeted income statement shows budgeted revenue and budgeted expenses of the business and at the…

Q: In business, a budget is a method for putting a limit on spending. Select one: True False

A: Budget is pre determined estimation of sales, production, material usage etc. It is a limit or a…

Q: When expenses are more than revenue the budget has a: O balance O debit O surplus deficit

A: Deficit is a situation when expenses are more than revenue.

Q: 6.   At the end of the fiscal year Encumbrances is closed to Budgetary Fund Balance with a credit.…

A: Encumbrances: Encumbrance means owners transfer of property to third party is restricted. But in…

Q: 3. Which of the following is not one of the purposes of a budget considered in the Government…

A: GFOA established the Budget award program in 1984 to encourage the state and local government to…

Q: In the budget of receipts and disbursements, it is not important the moment in which the income and…

A: The question is related to Budgetory Control.

Q: in the o

A: The right answer is  Budgeted Balance Sheet

Q: A budget prepared to give the budgeted cost of any level of activity is termed as a ___________. a.…

A: Budgeting is used to control the cost by estimated resource allocation for the next year.

Q: Which of the following statements is false about budgeted income statement and budgeted balance…

A: Budgeted income statement shows budgeted income and expense of the business and at the end it shows…

Q: Which of the following statements is false about budgeted income statement and budgeted balance…

A: Budgeted income statement is a report that facilitates the comparison between expected and actual…

Q: Which of the following expenses would not appear in the cash budget? Depreciation expense Marketing…

A: Cash Budget is prepared to analysis the cash transaction or cash flow of business. Non-cash items…

Q: Which of the following budgets would NOT be prepared by a service company?   Question 6 options:…

A: Service companies are used the operating budgets for estimating operating expenses, budgeted income…

Q: Which of the following statements is incorrect concerning budget​ preparation?   A. The rolling…

A: The process followed to make future estimates for revenue, expenses, purchasing and cash…

Q: 13. All of the following are functions of the budget committee except ⦁    review the budgets it…

A: B. determine the bonuses the organization awards to employees that achieve the target budget. Budget…

Q: Which of the following does not appear as a separate section on the cash budget? Group of answer…

A: Introduction: Cash Budget: All cash receipts and Cash disbursements are included in Cash budget. All…

Q: The government has to go into debt to meet the needs of the budget deficit or shortfall. Identify…

A: A budget deficit in an economy exists as the expenditures of the country are in excess of the…

Q: 10   Under the modified accrual basis of accounting, revenues should be recognized when…

A: The correct answer is Fourth Option.

Q: Which is not a section of the cash budget? *a fnancing needs Ob allowance for uncollectible accounts…

A: Cash receipts, cash disbursements, and financing needs are all part of the cash budget. The cash…

Q: Which is not a section of the cash budget?   a.cash disbursements b.allowance for uncollectible…

A: Budgeting is a process of anticipating and estimating the cash inflows and outflows which will be…

Q: What are your thoughts on the misappropriation of funds? Government budgets prevent public…

A: Government budget shows the expenditure and total income that government has.it can be either…

Q: 1. Why we preparation of budget ?

A: As per the honor code, We’ll answer the first question since the exact one wasn’t specified. Please…

Q: hich is not a section of the cash budge

A: Cash budget is a budget or an estimation of all cash inflows and outflows for a specified period of…

Q: Explain the process for creating an operating budget and its importance.

A: Hi student Since there are multiple questions, we will answer only first question. If you want…

Q: Government budgets prevent public officials from spending outside their budgetary authority, and the…

A: The government budget is a budget that is prepared in order to estimate the revenue and the…

Q: Which of the following is correct regarding zero-based budgeting?

A: In a traditional budget the base is taken from previous years, however in case of Zero Based budget…

Q: Which of the following is NOT correct about budgetary control. Select one: O a. It is a legally…

A: The question is multiple choice question  Required  Choose the Correct Option.

Q: Which of the following statements is false about budgeted income statement and budgeted balance…

A: The balance sheet will include only accout balance on the date of preparing balance sheet. Option d…

Q: 8.   According to GASB standards, which of the following is not classified as a budgetary account?…

A: Budget: Budget is the process of identifying, collecting, and summarizing the financial information.…

Q: Which one of the following items would never appear on a cash budget? Travel expense Interest…

A: Cash Budget includes only cash items (payments or receipts).

Q: 1. Briefly describe the two types of financial statements that government are required to issue…

A: A budget is a spending plan that is based on your earnings and expenses. In other words, it's a…

Q: Which of the following statements is false with respect to a budgeted income statement? Its interest…

A: The budgeted income statement is like other income statements which shows all the expenses and the…

Q: ?Which of the following statements is false about budgeted income statement and budgeted balance…

A: The financial statements of the business includes income statement and balance sheet.

Q: A budget is a historical record of the previous year’s financial activities; True or False

A: A budget is a forecast of revenue and expenses for a specific future period of time that is usually…

Q: Which one of the following is the incorrect statement regarding Budgets? Select one: a. Budget is…

A: Budgets are the estimates that are being made for future period of time. These helps in comparing…

Q: Which of the following will not appear in a cash budget? a.Wages b.Machinery bought on hire purchase…

A: Cash Budget: A cash budget provides details of a company’s cash inflow and outflow throughout a…

Cash budget

A cash budget is an estimate of an organization's cash flow for the 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. If cash receipts are insufficient to cover future expenses, an organization may plan to obtain funds from other sources. After estimating the sales, purchase, and capital expenditure budgets for the year, management develops a cash budget. These budgets are created to ensure that an organization's cash flow is managed. It is important to note that only cash transactions are recorded when actual cash enters and exits an organization.