LO 7.3Which budget is the starting point in preparing financial budgets?

the budgeted income statement
the budgeted balance sheet
the capital expense budget
the cash receipts budget

Respuesta :

Answer:

The budgeted income statement

Explanation:

The budgeted income statement is the starting point in preparing the financial budget. The budgeted income statement is all about calculating the revenues and expenses of the current period. It helps to calculate the profits and the actual performance of a company in the current period. It calculates the profits by subtracting the cost of goods sold and the operating expenses.