Which of the Following Budgets Is Prepared at the End

question 45

Multiple Choice

Which of the following budgets is prepared at the end of the budget-construction cycle?

• A) Sales budget.
• B) Production budget.
• C) Budgeted financial statements.
• D) Cash budget.
• E) Overhead budget.

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Definitions:

Monetary Unit Assumption

An accounting principle that assumes all transactions and financial statements are recorded in a single currency.

Cost Principle

An accounting principle that states all goods and services purchased by a business should be recorded at their cost price, rather than their current market value.

Economic Data

Economic data refers to quantitative information concerning the economy, which includes statistics on inflation, employment, GDP, and market transactions.

Yen

The official currency of Japan, represented by the symbol ¥.