40. CSO: 1A3a LOS: 1A3b
Many companies use comprehensive budgeting in planning for the next year’s activities.
When both an operating budget and a financial budget are prepared, which one of the
following is correct concerning the financial budget?
Included in the Financial Budget
Capital Budget Pro-forma Balance Sheet Cash Budget
a. Yes No Yes.
b. No Yes No.
c. Yes Yes Yes.
d. No No No.
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