Which of the following is NOT one of the types of budgets according to several classifications? Select one: a. Fixed budget b. Long-term budget c. External budget d. Production budget

Q: Explain the different purposes that a budget can have

A: Introduction:- Budgeting used to estimation of income and expenditure over a specified period of…

Q: what are the first two steps of a master budget? and are there formulas that are used for those…

A: The first two steps of a master budget are as follows: 1) Preparation of sales budget. A sales…

Q: a standard

A: A budget usually refers to a department's or a company's projected revenue, costs, or expenses. A…

Q: what is the source document for realignment of budget transaction for budgetary accounts?

A: The budget means the estimate of all-expense where the amount is spent. It is an estimate that the…

Q: The starting point in preparing a comprehensive budget is O The sales forecast O The cash budget O…

A: Solution: The starting point in preparing a comprehensive budget is "The sale forecast" because all…

Q: The master budget will comprise of what?

A: A MASTER BUDGET IS A SERIES OF SMALLER BUDGETS THAT ARE ROLLED UP INTO ONE LARGER BUDGET TO PROVIDE…

Q: A budgeted income statement is prepared from which budgets

A: The budget is prepared to estimate the requirements for the future period.

Q: The budgeted balance sheet is part of which element of the master budget? Financial budget…

A: The Financial budget is a part of master budget which shows cash inflows and cash outflows by using…

Q: Define the term operating budget.

A: Budget: Budget is an effective tool to achieve the financial and operational goals of the business.…

Q: “Cash budgets must be prepared before the operating income budget.” Do you agree? Explain.

A: Operating Budget: The operating budget is that budget which is prepared to plan all the operating…

Q: What are the three main types of financial budgets and what is the purpose of each

A: Budget represents the report of forecasting the financial expenditure and income for the future…

Q: What is a self-imposed budget? What are the major advantages of self-imposed budgets? What caution…

A: Self-imposed budgets: It refers to the budgets in which personnel have responsibility over the…

Q: Which of the following is the cornerstone of the master budget? a. The selling and administrative…

A: Master Budget: It includes companies budget plan for purchases, production, overhead, cost of goods…

Q: Which of the following is not an element of the master budget?a. The capital expenditures budget. b.…

A: Definition:

Q: What is a master budget? Briefly describe its contents.

A:

Q: A fixed budget is: Select one: a. A budget for fixed costs b. A budget for fixed assets c. A budget…

A: Given: A fixed budget is: Select one: A budget for fixed costs A budget for fixed assets A budget…

Q: Ending raw materials would appear in which of the following budgets? (A) Debit Labor Budget (B)…

A: Direct material budget is prepared by the management to find out the required material to be…

Q: Which of the operating budgets is prepared first?

A: The operation of a business is an important and necessary component of every business. The…

Q: The budgeted balance sheet is part of which element of the master budget?

A: The Answer

Q: What is the most commonly used Comparison pertaining to the budget

A: the budgeting process is considered to be an essential component of the management control system as…

Q: Which one of the following is an operating budget? a.cash budget b.sales budget c.budgeted…

A: Solutions- operating budgets are sales, production or manufacturing, labor, overhead, and…

Q: Which of the following includes only financial budgets?A. capital asset budget, budgeted income…

A: Budgets are the forecasts or estimates that are made for future period of time. Process of making…

Q: budgeted balance sheet sales budget production budget budgeted…

A: Budgeted balance sheet Explanation ; A financial budget has 3 elements            1. cash budget…

Q: Which of the following is an example of an external report? Select one: a Budget b. Plan c Annual…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: Which of the following represents the normal sequence in which the indicated budgets are prepared?…

A: Solution:- The following normal sequence indicated for preparing budgets as follows under:-

Q: All the following are considered operating budgets except Cash budget Materials budget Production…

A: Operating budgets are meant for the activities like buying, selling, paying or receiving bills.

Q: Which of the operating budgets is prepared first?A. production budgetB. sales budgetC. cash received…

A: Budgets are the estimates or forecasts that are being made for future period of time. Budget…

Q: what are the 3rd and 4th steps to a master budget? Are there formulas that go with these steps?

A: Master Budget: The master budget is the core budget that explains the complete process of the…

Q: in the o

A: The right answer is  Budgeted Balance Sheet

Q: Cite the differences of the major phases of budget process.

A: The spending cycle comprises of various stages: readiness and definition, financial plan. The…

Q: Which of the following budgets are prepared before the sales budget? Budgeted

A: First of all we prepare sales budget. After preparation of sales budget all other matters are…

Q: (1- Budget that is developed for a particular level of activity, it is: A-Standard budget C-Static…

A: "Since you have asked multiple questions, we will solve first question for you. If you want any…

Q: Explain the types of budget.

A: Budgets: Budgets are prepared for the planning and controlling purposes. Budgets facilitate planning…

Q: What are the various kind of budgeting and critically compare the fixed and variable budgeting and…

A: Budgeting is an important part of the business process. Without budgeting a business cannot track…

Q: The budgeted balance sheet is part of which element of the master budget? a. Financial budget b.…

A: Budgeted Balance Sheet: Management uses to predict the assets , liabilities and Stock holders equity…

Q: Which of the following is an operating budget?A. cash budgetB. production budgetC. tax budgetD.…

A: An operational budget seems to be a projection of projected income and costs for one or even more…

Q: What are the budgeted financial statements? How do they differ from regular financial statements?

A: Financial statements: Financial statements are condensed summary of transactions communicated in the…

Q: What is captial budgeting? Why a separate capital budget is needed?

A: The term capital budgeting comprises of two words, "Capital" means the funds needs for the…

Q: Which of the following budgets allows for adjustments in activity levels? Oa. flexible budget Ob.…

A: A Budget is well defined plan of finances which is a meant for a particular period of time. A budget…

Q: Sales budget is a Expenditure budget O Master budget Functional budget O None of these

A: Budget means the expected value of future. Budget is not affected by the actual value as it is…

Q: different budgetary types and identify the main characteristics of each

A: Different types of Budgetary Methods are: Incremental Budgeting. Activity-Based Budgeting. Value…

Q: Which of the following budgets involves the preparation of cash budgets? a.A sales budget b.A…

A: Budget is an estimation of data for future purpose. Budget helps the management to set a standard…

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.