The transaction system records actual events. The budget system records expected events. a. Pro forma, or predicted,

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The transaction system records actual events. The budget system records expected events.

a. Pro forma, or predicted, financial statements are prepared by combining information from various budgets.

b. The transaction system produces financial statements based on actual performance, while the budget system produces financial statements based on predicted performance.

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Managerial Accounting Information For Decisions

ISBN: 9780324222432

4th Edition

Authors: Thomas L. Albright , Robert W. Ingram, John S. Hill

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Question Posted: Jun 05, 2024 01:07 AM

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The transaction system records actual events. The budget system records expected events. a. Pro forma, or predicted,

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Managerial Accounting Information For Decisions

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