Listed Below Are Elements of the Master Budget

question 100

Essay

Listed below are elements of the master budget.Determine whether each budget is an operating budget or a financial budget.Place an O for operating budget or F for a financial budget.
1.Capital expenditures budget
2.Cost of goods sold budget
3.Revenues budget
4.Budgeted cash flow statement
5.Distribution costs budget
6.Marketing costs budget
7.Cash budget
8.Direct materials cost budget
9.Budgeted balance sheet
10.Budgeted income statement

---

Definitions:

Planned Objectives

Strategically set goals that an organization aims to achieve within a specific timeframe.

Budgetary Control

A method of managing costs and operations through the preparation of budgets, enabling organizations to monitor and control their financial performance.

Budget Reports

Financial documents that compare actual financial results to the budgeted figures, helping in tracking performance and planning.

Actual Costs

The real costs incurred in the production of goods or the providing of services, as opposed to estimated costs.