Is The operating budget is the summary of the income statement and its supportive schedules?

No, the operating budget is a detailed financial plan that outlines the expected revenues and expenses for a specific period of time, typically a fiscal year. It includes projections for sales, costs of goods sold, operating expenses, and other financial metrics. The income statement, on the other hand, is a financial statement that summarizes a company's revenues and expenses over a specific period of time, typically a quarter or year. While the operating budget may inform the income statement, they are separate financial documents with different purposes.

No