Question

Which of the following is the last budgeted financial statement to be prepared?

A. Budgeted income statement.
B. Budgeted balance sheet.
C. Cash budget.
D. It doesn't matter which one is prepared last.

Answer 1

The budgeted income statement is typically the last budgeted financial statement to be prepared.

Step-by-step explanation:

The budgeted income statement is typically the last budgeted financial statement to be prepared. This statement summarizes the projected revenues, expenses, and net income for a specific period, such as a month or a year. It reflects the financial performance of a company and helps in planning and evaluating the budgeted financial activities.

The budgeted balance sheet, on the other hand, shows the financial position of a company at a specific point in time, while the cash budget provides information about the expected cash inflows and outflows during a specific period.

Therefore, the correct answer is A.The Budgeted income statement is the last budgeted financial statement to be prepared.