Chapter 23 - Operational Budgeting15. If the behavioral approach is employed to determine the levels at which budgeted amounts are set, then reasonable and achievable levels should be used. True False16. A master budget is a comprehensive financial plan setting forth the financial and operational goals of a business. True False17. A master budget actually includes a number of related budgets. True False18. In preparing a master budget, budgeted levels for production, manufacturing costs, and operating expenses normally are determined after preparing the sales forecast. True False19. If the total quality management approach is employed to determine the level at which budgeted amounts are set, then absolute efficiency is assumed. True False20. A cash budget determines the maximum amount of money that can be spent during the period. True False21. The preparation of a budgeted balance sheet requires consideration of the budgeted capital expenditures and budgeted net income.