To budget the customer balance in the projected balance sheet, two procedures can be followed that are hidden in the answers, which are? A) Opening balance plus credit sales for the budgeted period minus collections made. B) Apply current turnover to the budgeted period. C) Perform an aging analysis of customer balances. D) Project sales and outstanding balances for the last "n" years. E) Perform an actuarial calculation. Note:
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
4.-
To budget the customer balance in the projected balance sheet, two procedures can be followed that are hidden in the answers, which are?
A) Opening balance plus credit sales for the budgeted period minus collections made.
B) Apply current turnover to the budgeted period.
C) Perform an aging analysis of customer balances.
D) Project sales and outstanding balances for the last "n" years.
E) Perform an actuarial calculation.
Note:
You can choose more than one option.
Please double check your answer.
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