An accounting report that presents predicted amounts of the companys assets, liabilities, and stockholders equity as of the end of the budget period is called a(n):

INTRODUCTION TO COST ACCOUNTING

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

An accounting report that presents predicted amounts of the company’s assets, liabilities, and stockholders’ equity as of the end of the budget period is called a(n):

A	Master balance sheet.
B	Budget income statement.
C	Budget balance sheet.
D	Master income statement.
E	Operating balance sheet.

Explanation:

Detailed explanation-1: -A managerial accounting report that presents predicted amounts of the company’s assets, liabilities, and equity as of the end of the budget period is called a(n): Budgeted balance sheet.

Detailed explanation-2: -A balance sheet is a financial statement that reports a company’s assets, liabilities, and shareholder equity. The balance sheet is one of the three core financial statements that are used to evaluate a business.

Detailed explanation-3: -Answer and Explanation: A report based on predicted amounts of revenues and expenses corresponding to the actual level of output is called a c. flexible budget.

Detailed explanation-4: -A balance sheet reports financial information on a specific date and includes the assets, liabilities, and owner’s equity. A balance sheet reports information about the elements of the accounting equation.

Detailed explanation-5: -A managerial accounting report that presents predicted amounts of the company’s revenues and expenses for the budget period is called a: Continuous profit statement.

There is 1 question to complete.