Which of the Following Is Not Included in the Operating

question 138

Multiple Choice

Which of the following is not included in the operating budget?

• A)Budgeted income statement
• B)Sales budget
• C)Direct labor budget
• D)Budgeted balance sheet

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Definitions:

Accounts Payable

Liabilities representing amounts owed by a company to creditors for goods and services received.

Petty Cash Fund

A small amount of cash on hand used for covering minor or incidental expenses within a business.

Petty Cash Receipt

A document used to record small, miscellaneous expenses paid with petty cash funds.

Cash Equivalents

Short-term, highly liquid investments that are easily convertible into a known amount of cash and close to their maturity.