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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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11*
![Which of the following statements is false about budgeted income statement and budgeted balance
sheet?
O a. Credit purchases will be included in the accounts payable in the budgeted balance sheet.
O b. The cash budget must be prepared first before preparing both the budgeted income
statement and the budgeted balance sheet.
O c. The beginning finished goods inventory will be included in the budgeted balance sheet.
O d. The budgeted income statement must be prepared first before preparing the budgeted
balance sheet.
O e. None of the given answers.](https://content.bartleby.com/qna-images/question/d6b000ca-b52a-4184-93cf-f27e7a6bce98/81197fd8-1d3c-4592-8092-9eeb7decf81b/qnj8zep_thumbnail.jpeg)
Transcribed Image Text:Which of the following statements is false about budgeted income statement and budgeted balance
sheet?
O a. Credit purchases will be included in the accounts payable in the budgeted balance sheet.
O b. The cash budget must be prepared first before preparing both the budgeted income
statement and the budgeted balance sheet.
O c. The beginning finished goods inventory will be included in the budgeted balance sheet.
O d. The budgeted income statement must be prepared first before preparing the budgeted
balance sheet.
O e. None of the given answers.
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