Accounting: Tools for Business Decision Making, 5th Edition

Published by Wiley
ISBN 10: 1118128168
ISBN 13: 978-1-11812-816-9

Chapter 21 - Budgetary Planning - Self-Test Questions - Page 1111: 5

Answer

B - management's best estimate of sales revenue for the year

Work Step by Step

When management creates a sales budget, it is their best estimate of sales revenue for a specified period of time. Sales budgets can be monthly, quarterly, but most often they are annual budgets. Management takes into account historical sales data and cyclical trends when creating the sales budget.
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