Question

The budgeted balance sheet shows the company's planned profit, and serves as a benchmark to compare...

The budgeted balance sheet shows the company's planned profit, and serves as a benchmark to compare to actual performance.

True or False

The budgeted balance sheet is developed using data from the actual balance sheet from the beginning of the budget period, as well as data in various other budget schedules.

True or False

The cash disbursements section of a cash budget consists of all budgeted cash payments for the period except repayment of principal and interest.

True or False

Business   Accounting   
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Answer #1

The budgeted income statement shows the company's planned profit, and serves as a benchmark to compare to actual performance.

False

.......................................................................................................................................................................................

The budgeted balance sheet is developed using data from the beginning of the budget period, as well as data in various other budget schedules.

False

.......................................................................................................................................................................................

The cash disbursements section of a cash budget consists of all budgeted cash payments for the period except repayment of principal and interest these are included in financing section

True

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