Objectives of fi nancial reporting to external investors and creditors include preparing information about all of the fol-lowing except: a. Information used to determine which products toproduce.b. Information about economic resources, claims to thoseresources, and changes in both resources and claims. c. Information that is useful in assessing the amount, tim-ing, and uncertainty of future cash fl ows. d. Information that is useful in making investment andcredit decisions.

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Production Budget

A budget can be defined as a financial plan designed by an undertaking for a definite period in the future that can contribute towards enhancing the financial success of the business undertaking. It is used to estimate the revenue and expenses. The budget generally takes into account both current and future income and expenses.