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collections of cash from which of the following accounts is used to develop the budgeted balance...

collections of cash from which of the following accounts is used to develop the budgeted balance sheet?
a. Accounts payable

b. Accounts receivable

c. Inventory

d. None of the above

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Answer #1

B. Accounts Receivable

The budgeted Balance sheet refers to the future positions of an entity which can be attained by meeting the goals or estimations which were laid by the management in terms of sales, In order to make sales the entity have sell their products i.e., goods( in normalr parlance) . As the sales are made to accounts receivable through sale of goods and services collections of cash from Accounts receivable is used to develop Budgeted Balance sheet.

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