The budget that summarizes future plans for the acquisition of fixed assets is the _____ budget.

A) direct materials purchases
B) production
C) sales
D) capital expenditures

Capital Expenditures

Long-term investments made by a company in buildings, equipment, or other assets to improve or maintain its operations.

Direct Materials Purchases

Expenditures for raw materials that are directly traceable to the manufacturing of a product and are a significant part of the production process.

Fixed Assets

Long-term tangible assets held for business use and not expected to be converted to cash in the short term.