Which of the Following Is $\textbf{ not }$

question 152

Multiple Choice

Which of the following is $\textbf{ not }$ a component of the master budget?

• A)Budgeted income statement
• B)Direct material purchases budget
• C)Ending inventory and cost of goods sold budget
• D)All of these ans choices are components of the master budget.

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Definitions:

Net Income

The remaining profit of a company after all necessary subtractions, such as taxes and expenses, from its revenue.

Net Income

A company's remaining earnings after deducting all taxes and costs from the complete revenue.

Income Splitting

A tax strategy used to transfer income from a higher-tax-rate taxpayer to a lower-tax-rate taxpayer to reduce the total tax paid.

Salary Allowances

Additional monetary benefits provided to employees on top of their regular salary, potentially for specific purposes or expenses.