Multiple Choice The budget preparation process typically begins with the sales budget and continues through the preparation of the budgeted financial statements. The last budget schedule prepared before the financial statements is the Taxes and licenses budget Cash budget Selling and administrative expenses budget Cost of goods sold budget.

Which of the following best describes the direct materials purchase budget?   Question 12 options:   It is the beginning point in the budget process   It must provide for the desired ending inventory as well as for production   It is a accomplished by a schedule of cash collection   It is completed after the cash budget

1. Describe the difference between a static and a flexible budget 2. Outline how often businesses must report GST 3. Describe a method that can be used to evaluate a budget or financial plan.

Which of the following budgets are prepared before the sales budget?     Budgeted Income Statement Direct Labor Budget A) Yes Yes B) Yes No C) No Yes D) No No Group of answer choices Choice A Choice B Choice C Choice D