Which of the Following Is a Financial Budget

question 85

Multiple Choice

Which of the following is a financial budget?

• A) cost of goods sold budget
• B) budgeted balance sheet
• C) marketing expense budget
• D) production budget

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Definitions:

Ending Inventory

The aggregate worth of items on offer at the termination of an accounting cycle.

Beginning Inventory

The value of inventory held by a business at the start of an accounting period.

Inventory Costing Method

Techniques used to assign costs to inventory and cost of goods sold, such as FIFO (First-In, First-Out) or LIFO (Last-In, First-Out).

Gross Profit

The financial metric calculated by subtracting the cost of goods sold from net sales, representing the profit from selling goods before deducting operating expenses.