Question

Which of the following budgets is prepared last? a. Budgeted balance sheets are not dependent upon...

Which of the following budgets is prepared last?

a. Budgeted balance sheets are not dependent upon budgeted income statements

b. Budgeted income statements include amortization expenses

c. Cash budgets include amortization expenses

d. Production budget shows the cost of the raw material to be purchased

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--The correct answer is Option 'B' Budgeted income statements include amortization expenses is the only TRUE statement.

--Rest all options are FALSE or INCORRECT statement.

>Budgeted balance sheet is dependent on Income Statement.
>Cash budget does not include amortisation expense as it not a 'cash' item.
>Production budget only contains information regarding products to be produced.

--Note: The question does not go with the options provided. Please recheck if the question is for the given options.

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