Discussion
Which of the following is not a part of Budget ?
Answer: D
The item that is not a part of the budget is the Budget manual.
A budget manual is a document that sets out the procedures of budgeting: who is responsible for each budget, the budget calendar, the forms to be used and the duties of the budget committee. It guides the preparation of budgets but is not itself a budget.
The other three are budgets or parts of the master budget. Operating budgets cover sales, production and expenses; the capital expenditure budget plans spending on fixed assets; and the projected (budgeted) balance sheet is the financial budget that closes the master budget.
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