tb chap 8 - 1. The master budget in an organization...

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1. The master budget in an organization consists of: a. both operating and financial budgets. b. both an operating budget and a pro-forma budget. c. both a financial budget and a comprehensive budget. d. only a pro forma budget. correct: a 2. The financial budgets include the: a. production budget. b. sales budget. c. purchases budget. d. capital expenditures budget. correct: d 3. The production budget information affects: a. direct labor. b. the factory overhead budget. c. the purchases budget. d. All of the choices are affected by the production budget. correct: d 4. Which budgeted financial statement does a company prepare first? a. Statement of cash flows b. Retained earnings statement c. Cost of goods manufactured schedule d. Balance sheet and retained earnings statement correct: c 5. The most important budget in the master budget is likely the: a. cash budget. b. capital budget. c. personnel budget. d.
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This note was uploaded on 12/12/2008 for the course ACCT 310 taught by Professor Nacemagner during the Fall '08 term at Western Kentucky University.

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tb chap 8 - 1. The master budget in an organization...

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