Listed below are elements of the master budget. Determine whether ...

[geodog55]

Listed below are elements of the master budget. Determine whether each budget is an operating budget or a financial budget. Place an O for operating budget or F for a financial budget.
 
  1. Capital expenditures budget
   2. Cost of goods sold budget
   3. Revenues budget
   4. Budgeted statement of cash flows
   5. Distribution costs budget
   6. Marketing costs budget
   7. Cash budget
   8. Direct materials cost budget
   9. Budgeted balance sheet
   10. Budgeted income statement

Question 2

The chart of accounts includes assets, liabilities, and owner's equity accounts only.
 a. True
   b. False
   Indicate whether the statement is true or false

[dominiqueenicolee]

Answer to Question 1

Answer:
1. F 6. O
2. O 7. F
3. O 8. O
4. F 9. F
5. O 10. O

Answer to Question 2

False

[geodog55]

YES! Correct, THANKS for helping me on my review

[amcvicar]

Thanks for the timely response, appreciate it