In preparing financial budgets:

Multiple Choice

The budgeted balance sheet is usually prepared last.

The cash budget is usually not prepared.

The budgeted income statement is usually not prepared.

The capital expenditures budget is usually prepared last.

The budgeted income statement is usually prepared last.

Solutions

Expert Solution

The correct option is

The budgeted balance sheet is usually prepared last

Explanation:

- A financial Budget is an estimation and preparation of some financial related statements like capital budgets, cash budgets, budgeted income statements and budgeted balance sheet.

- Usually, The budgeted balance sheet is prepared at last by considering all prevailing financial information.

- Usually, In preparing financial budgets, A firm will prepare all budget statements before the preparation of budgeted balance sheet.

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