Q215
A statement which reflects future incomes and expenditure
A.
Profit and loss
B.
Budget
AnswerC.
Balance sheet
D.
Cash account
Answer: Option B
Solution
Answer: Option B
Solution:
Budget is a statement that reflects future incomes and expenditure. The budget statement is an estimate of revenues and expenses predefined for a specified period. It reflects the company's future financial conditions and helps to achieve financial goals.