Which One of the Following Is the Last Step in Preparing

question 100

Multiple Choice

Which one of the following is the last step in preparing the operating budget?

• A)budgeted income statement
• B)production budget
• C)cash budget
• D)budgeted balance sheet

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Definitions:

Purchase Price

Refers to the amount of money paid or agreed to be paid by a buyer to acquire an asset or service.

Respondeat Superior

Respondeat Superior is a legal doctrine holding that an employer is responsible for the actions of employees performed within the course of their employment.

Employee's Negligence

Situations where an employee’s failure to exercise reasonable care in their duties results in harm or damage.

Employee's Intentional Torts

Acts committed by an employee with the intention to cause harm or damage, which can lead to legal liability for the employer under certain conditions.