Question

True OR False

1- The selling and administrative budget is typically prepared before the cash budget. (     )

2-The cash budget is the starting point in preparing the master budget. (       )

3- Control involves developing goals and preparing various budgets to achieve those goals. (       )

4-The budgeted income statement is typically prepared before the budgeted balance sheet. (       )

5-In the merchandise purchases budget, the required purchases (in units) for a period can be determined by subtracting the beginning merchandise inventory (in units) from the budgeted sales (in units) and desired ending merchandise inventory (in units). (       )

6-The number of units to be produced in a period can be determined by adding the expected sales to the desired ending inventory and then deducting the beginning inventory. .(       )

7-The direct labor budget shows the direct labor-hours required to satisfy the production budget. .(       )

8-The manufacturing overhead budget lists all costs of production other than direct materials and direct labor. .(       )

9-In the manufacturing overhead budget, the non-cash charges (such as depreciation) are deducted from the total budgeted manufacturing overhead to determine the expected cash disbursements for manufacturing overhead.(       )

10-The disbursements section of a cash budget consists of all cash payments for the period except cash payments for dividends. .(       )

Answer 1

1	TRUE	The selling and administrative budget is typically prepared before the cash budget.
2	FALSE	Cash Budget is the ending point in the preparing the master budget
3	FALSE	Plaaning Involves developing goals and preparing various budgets and not the controlling
4	TRUE	budgeted income statement is typically prepared before the budgeted balance sheet.

As all the questions are different only 1st four question has been answered.

Please ask other questions separately.