16.Which of the following is not a component of the master budget? A.Operating b
ID: 2487272 • Letter: 1
Question
16.Which of the following is not a component of the master budget?
A.Operating budget
B.Budgeted income statement
C.Budgeted balance sheet
D.Statement of return on investment
17.Which of the following is not included in the operating budget?
A.Budgeted balance sheet
B.Sales budget
C.Selling and administrative budget
D.Raw materials purchases budget
18.The starting point for preparing the master budget is the
A.inventory policy
B.sales forecast
C.production budget
D.budgeted balance sheet
19. ____________ are the specific actions managers use to achieve their objectives.
A.Strategic plans
B.Long-term objectives
C.Short-term objectives
D.Tactics
20._____________ are the specific goals that managers want to achieve over a 5 to 10 year horizon.
A.Strategic plans
B.Long-term objectives
C.Short-term objectives
D.Tactics
Explanation / Answer
16. Statement of return on invesntment is not a component of master budget.
17. Budgeted balance sheet is not included in the operating budget.
18. The starting point of preparing a master budget is sales forecast.
19. Strategic plans are the specific actions managers use to achieve their objectives.
20. Long-term objectives are the specific actions managers use to achieve their objectives.
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