Question

Budgeted financial statements are financial statements based on budgeted amounts rather than actual amounts.

a. true or
b. false

Answer 1

The statement is True.

Step-by-step explanation:

Budgeted financial statements are prepared for a future period of time. So that it is easy to anticipate certain fixed and variable costs and allocate financial resources to them.

Also, Budgeted financial statement are useful during the strategic planning process and planning on future business expansions.