Key Concepts (Grade 12 NSC Matric Accounting): Quizzes
📚Quizzes
Practise the questions
10 questions from this quiz
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Practise the questions
10 questions from this quiz
What does budgeting help businesses create about future income and expenses?
What does budgeting help businesses create about future income and expenses?
Educated predictions
What does a cash budget specifically focus on predicting?
What does a cash budget specifically focus on predicting?
Actual money flow in and out of business
What is the main purpose of a cash budget?
What is the main purpose of a cash budget?
Forecast future cash receipts & payments
What does a projected income statement include regardless of cash timing?
What does a projected income statement include regardless of cash timing?
Credit sales and expenses paid on credit
What does a projected income statement help forecast?
What does a projected income statement help forecast?
Future profits or losses
What does a debtors' collection schedule forecast?
What does a debtors' collection schedule forecast?
Receipts from debtors
What benefit does a creditors' payment schedule provide besides forecasting payments?
What benefit does a creditors' payment schedule provide besides forecasting payments?
Maintains good supplier relationships
When do cash sales appear in a cash budget?
When do cash sales appear in a cash budget?
During the month when the sale occurs
When do credit sales affect the cash budget?
When do credit sales affect the cash budget?
When payment is actually received
What is the key difference between a cash budget and a projected income statement?
What is the key difference between a cash budget and a projected income statement?
Cash budget tracks money flow timing