In Preparing an Operating Budget, the Sales Budget Is Prepared

question 24

Multiple Choice

In preparing an operating budget, the sales budget is prepared first. Which of the following is the last component of the operating budget?

• A) Capital expenditures
• B) Budgeted income statement
• C) Operating expenses
• D) Inventory, purchases and cost of goods sold

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Definitions:

Knowledge Management

The systematic process of creating, sharing, using, and managing the knowledge and information of an organization.

Electronic Storage

The process of storing data and information digitally on electronic systems or devices such as hard drives, SSDs, or cloud storage.

Retrieval

The process of getting information or objects back from somewhere, especially from memory.

Face-to-face

Direct interaction between two or more people in the same physical space, without the use of electronic communication devices.