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A company has prepared the operating budget, the cash budget, and the budgeted income statement and is now preparing the budgeted balance sheet. The balance of Retained Earnings can be taken from the ________.
A) operating budget
B) inventory, purchases, and cost of goods sold budget
C) budgeted income statement and the balance sheet of the previous year
D) cash budget
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
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#2
6 years ago
Makes perfect sense, thx
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