 In this presentation, we will take a look at multiple choice questions related to budgeting, going through the questions, and then practicing test taking skills with them. First question, which would be on a budgeted balance sheet? A. Advertising Expense. B. Sales Revenue. C. Cost of Goods Sold. D. Accounts Receivable. Or E. All of the choices are correct. Let's go through this again using the process of elimination, which would be on a budgeted balance sheet. A. Advertising Expense. Now the fact that it says expense would typically mean that it would be on the income statement. And note that although we're talking about a budgeted balance sheet here, most of the rules would generally apply. We'd have budgeted income and budgeted expenses on an income statement, budgeted assets, liabilities, and equity on the balance sheet. So advertising expenses probably wouldn't be on the balance sheet. That would be an income statement item.