true false write 39 t 39 if the statement is true and 39 f 39 if the statement is fa 4302268

TRUE/FALSE.

Write 'T' if the statement is true and 'F' if the statement is false. 1) A budget is a quantitative expression for a set time period of a proposed future plan of action by management.
1) _______

2) A budget is limited in that it can only cover financial aspects of plans.
2) _______

3) The master budget embraces the impact of both operating decisions and financing decisions as related to acquisitions and uses of scarce resources.
3) _______

4) Budgeted financial statements are also referred to as pro forma statements.
4) _______

5) Budgeting is done in place of “strategic analysis”.
5) _______

6) Management at all levels should understand and support the budget and all aspects of the management control system.
6) _______

7) Budgets that change (rolling or continuous) are better for the organization than budgets that do not change.
7) _______

8) The financial budget is that part of the master budget that comprises the capital budget, cash budget, operating budget, and budgeted balance sheet.
8) _______

9) Beginning with the cash budget, each budget supporting the master budget follows step by step in logical fashion.
9) _______

10) The production budget of a manufacturing company is prepared after the revenue budget.
10) ______