the major purpose of which of the following is to prepare an accurate estimate of future cash flows? A. Operating budget B. Cash budget C. Capital budget D. Executive budget
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- What is the process for developing a budgeted balance sheet?Which of the following is an operating budget? A. cash budget B. production budget C. tax budget D. capital budgetWhich of the following includes only financial budgets? capital asset budget, budgeted income statement, sales budget production budget, capital asset budget, budgeted balance sheet cash budget, budgeted balance sheet, capital asset budget budgeted income statement, direct material purchases budget, cash budget
- Which budget is the starting point in preparing financial budgets? the budgeted income statement the budgeted balance sheet the capital expense budget the cash receipts budgetExplain how cash flows are esrimated for captial budgeting. What are sunk costs and opportunity costs, and how should they be handled in identifying the projects relevant cash flows?Which one of the following is an operating budget? a.cash budget b.sales budget c.budgeted balance sheet d.capital expenditure budget
- Which of the following is part of the budget preparation process EXCEPT? a) Available resources b) Budget scope c) Budget format to be used d) Credit lines availableDefine each of the following terms:f. Cash budget; target cash balanceWhich budget evaluates the results of operations at the actual level of activity? A) capital budget B) cash budget C) static budget D) flexible budget
- Explain budgetary reporting requirements.a.Identify the budget preparation approach usedThe objectives of budgeting are to:a. Establish specific goals for future operations b. Execute plans to achieve the goalsc. Measure performance by periodic comparison of actual with budgeted results d. All of the above