The first budget that is normally prepared is the:Group of answer choicessales budget.capital expenditure budget.cash budget.budgeted income statement.

A budget is:Group of answer choicesthe process relating to the longer term planning for a business.all of the options are true.a financial statement prepared for external users.a quantitative expression of an entity's future plans.

The budget that sets out the expected future cash receipts and cash payments during the budget period is referred to as the:Group of answer choicespurchases budget.capital budget.cash budget.program budget.

The final budget prepared in order to complete development of the operating budget is:Multiple Choicethe revised sales forecast for next quarter.the budgeted balance sheet.the budgeted cash flow statement.the budgeted income statement.

The first step in preparing the master budget is planning the budget.

The budget that deals with expenditure relating to long-term investments is the:Group of answer choicescapital budget.purchases budget.budgeted balance sheet.production budget.