Question

The development of the operating budget is complete when:

A. the sales forecast for next year is complete.
B. the budgeted cash flow statement is complete.
C. the budgeted income statement is complete.
D. the budgeted balance sheet is complete.

Answer 1

The development of the operating budget is complete when the budgeted income statement is complete.

Step-by-step explanation:

The development of the operating budget is complete when the budgeted income statement is complete. The budgeted income statement projects the expected revenue and expenses for the upcoming period, providing a comprehensive overview of the financial performance of the organization.