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Vlada [557]
3 years ago
5

Which of the following represents the normal sequence in which the below budgets are prepared? a. Sales budget, budgeted balance

sheet, budgeted income statement b. Budgeted balance sheet, sales budget, budgeted income statement c. Sales budget, budgeted income statement, budgeted balance sheet d. Budgeted income statement, sales budget, budgeted balance sheet
Business
1 answer:
zloy xaker [14]3 years ago
6 0

Answer:

c. Sales budget, budgeted income statement, budgeted balance sheet

Explanation:

First, we calculate the sales for the period. It would also calculatethe cash proceeds from sales, which will be useful for the balance sheet.

With that, we can plug sales revenue into the income statement and calcualte the net income.

And with the income statement, we can solve for retained earnings and build up the balance sheet. Among other data

Doing it in any other order, we are going to leave blanks and need to do the next one to fill them. In the proposed orde,r we do not need information from the subsequent budget to complete the previous one, which is good.

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Answer:

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Explanation:

Consumer sovereignty is the idea that it is consumers who influence production decisions because they decide what to buy by checking to see that their expectations are meet. Production of goods is designed towards meeting the needs of the consumers. The consumers select what they want to buy by the checking if the good fulfills their needs and wants.

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Explanation:

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