Question

A managerial accounting report that presents predicted amounts of the company's assets, liabilities, and equity as of the end of the budget period is called a(n): Select one: a. Rolling balance sheet. b. Continuous balance sheet. c. Budgeted balance sheet. d. Cash balance sheet. e. Operating balance sheet.

Answer 1

Budgeted balance sheet

Explanation:

A budgeted balance sheet refers to a document that is used by administrators to estimate resource, liability, and capital rates for the present financial year depending on the plan.

In other terms, a planned balance sheet indicates where every account at the end of a year would have been if the company's actual performance met the projections budgeted.

Management typically begins preparing a strategic schedule for another period at the last of each year. The master budget consists of a lot of minor purchases, funds, revenues, and general spending budgets. To make a large, detailed realistic plan, all such budgets are integrated.