Question

Roman, the finance manager at Outdoor Adventure Sporting Goods, has asked his assistant, Vincent, to prepare the ________ budget. Vincent will gather as much information as possible by utilizing the firm's other budgets and any documents that summarize proposed financial activities.

Answer 1

The correct answer would be, Operating Budget.

Roman, the finance manager at Outdoor Adventure Sporting Goods, has asked his assistant, Vincent, to prepare the Operating Budget.

Explanation:

Operating Budget is also called the Master Budget. The operating budget is a budget that summaries all the financial activities involving Incomes and Expenses of a company over a proposed period of time.

Operating budget make use of all the financial statements to gather information about the Master budgeting.

To get the whole information about income and expenses is very crucial for a company to have a clear picture of what is going out and what is coming into the company. This defines the current state of the company.

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