Which of the following is not an element of the master budget?a. The capital expenditures budget. b. The production schedule.c. The operating expense budget.d. All of the above are elements of the master budget.

Q: __________________is the cornerstone of the master budget?

A: The  Answer

Q: Explain the term of operating budget.

A: Introduction Budget is monetary plan for future. It deals with where the company wants to reach in…

Q: The capital expenditures budget is derived from the Operating budget and the financing budgets?…

A: A capital expenditure budget is a formal plan that states the amounts and timing of fixed asset…

Q: In practice, when developing a budget, two extremes used for guidance are ________ and ________. A)…

A: Budgeting is the process of estimating projected cash coming in from different sources such as sales…

Q: Which of the following is NOT one of the types of budgets according to several classifications?…

A: Budgets are the estimations or forecasts that are made for future period of time.

Q: The master budget will comprise of what?

A: A MASTER BUDGET IS A SERIES OF SMALLER BUDGETS THAT ARE ROLLED UP INTO ONE LARGER BUDGET TO PROVIDE…

Q: A budgeted income statement is prepared from which budgets

A: The budget is prepared to estimate the requirements for the future period.

Q: Can you interpret the effect on revenue , expense and profits if the sale or production differ from…

A: Master Budget shows the estimated results that a company expects to obtain from its operations.

Q: The budgeted balance sheet is part of which element of the master budget? Financial budget…

A: The Financial budget is a part of master budget which shows cash inflows and cash outflows by using…

Q: Which of the following describes the order in which the four types of budgets must be prepared?a.…

A: Budgeting is the process of estimation of expected revenues and expenses of the entity over a…

Q: _________________is an operating budget

A: The Answer :

Q: Define the term operating budget.

A: Budget: Budget is an effective tool to achieve the financial and operational goals of the business.…

Q: “Cash budgets must be prepared before the operating income budget.” Do you agree? Explain.

A: Operating Budget: The operating budget is that budget which is prepared to plan all the operating…

Q: What are the three main types of financial budgets and what is the purpose of each

A: Budget represents the report of forecasting the financial expenditure and income for the future…

Q: What are the three types of budgets included in the master budget. Define and explain each type.

A: Solution:- The master budget is the sum total of all the divisional budgets that is prepared by all…

Q: Which of the operating budgets is prepared first?

A: The operation of a business is an important and necessary component of every business. The…

Q: The budgeted balance sheet is part of which element of the master budget?

A: The Answer

Q: How is the operating budget of the master  budget used by management?

A: the master budget consists of all types of budget. operating budget is one of the budgets in the…

Q: Which of the following is an example of an external report? Select one: a Budget b. Plan c Annual…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: Q.Master budget. Which of the following statements is correct regarding the components of the master…

A: The correct answer is Option (b).

Q: Which of the following is the cornerstone of the master budget? The selling and administrative…

A: Master budget: Master budget is the set of budgeted financial statements and supporting schedules…

Q: in the o

A: The right answer is  Budgeted Balance Sheet

Q: Cite the differences of the major phases of budget process.

A: The spending cycle comprises of various stages: readiness and definition, financial plan. The…

Q: Which of the following budgets are prepared before the sales budget? Budgeted

A: First of all we prepare sales budget. After preparation of sales budget all other matters are…

Q: Based on the above information what is the budgeted

A: Fixed cost is the cost that remains the same at every level of activity. The company can produce any…

Q: Which of the following is NOT one of the essentials of a budget? Select one: a. It has a standard…

A: The purpose of budgeting is strictly for management for internal analysis and performance…

Q: Does a budget provide guidlines of the application of the organisaion`s resources?

A: Budgeting is critical for any business because it allows income and expenses to be matched. It makes…

Q: Which of the following is not an operating budget?

A: Operating Budget is those Budget which relates to the Daily Operations of a Organization, Generally…

Q: Which of the following accounts would appear ona budgeted balance sheet? Multiple Cholce All of the…

A: Solution: In a Balance sheet, Assets, liabilities and Equity accounts are represented. However…

Q: The following budgets are all financial budgets except for the O A. combined cash budget. OB.…

A: A budget can be defined as a financial plan or an estimation of revenues, expenditure, sales,…

Q: _________________is a component in a financial budget

A: The Answer

Q: component of the master budget

A: Second option is wrong because budgeted income statement is a component of master budget. Third…

Q: Which of the following is a correct definition of budget? Select one: O a A financial and/or…

A: Planning is an important process under the cost accounting, an organization can not achieve their…

Q: Why is the Revenue budget considered the starting point for the master budget

A: We can say that the master budget is the aggregation of all lower level budgets.

Q: Which of the following statements correctly describes rela-tionships within the master budget? (More…

A:

Q: The budgeted income statement is part of which element of the master budget? The financial budget…

A: Master Budget: Master budget is the comprehensive set of budgeted financial statements and…

Q: Define the term financial budget.

A: Budget:   Budget is an effective tool to present the estimated actions for future time period. It…

Q: Define the term master budget.

A: Budget:   Budget is an effective tool to present the estimated actions for future time period. It…

Q: The includes all other budgets to present a complete and comprehensive view of the company's…

A: Budgets are the statements prepared to estimate the future revenues and expenses.

Q: What is the relationship between the master budget and responsibility accounting?

A: Definition of budget: According to CIMA Budget means " Quantitative expression of a plan for a…

Q: Why is planning, supervising, and reviewing the budget important in budgeting model

A: Answer : Planning ,supervising and reviewing the budget is very important in budgeting model The…

Q: 3. The budget element/s included in the financial budget process are the following except the -…

A: Financial Budget: It is the budget used to examined the needs of cash in the organization and…

Cash budget

A cash budget is an estimate of an organization's cash flow for the future period. A cash budget forecasts future cash receipts and payments from various sources for a fiscal year. A cash budget can be created once a month or once a week to determine the organization's cash position and ensure its performance in relation to the budget. It aids in determining whether the company has enough cash and cash equivalents to meet its operational needs in the future. If cash receipts are insufficient to cover future expenses, an organization may plan to obtain funds from other sources. After estimating the sales, purchase, and capital expenditure budgets for the year, management develops a cash budget. These budgets are created to ensure that an organization's cash flow is managed. It is important to note that only cash transactions are recorded when actual cash enters and exits an organization.