1)

An operating budget is the major part of the master budget that focuses on the balance sheet and supporting schedules.

A) TRUE

B) FALSE

2)

Systematically varying budget data input to determine the effects of each change on the budget is called ______ analysis.

A) operating budget

B) financial budget

C) sensitivity

D) master budget

3)

The operating budget is a better measurement of a comp[any's long- term performance than the financial budget.

A) TRUE

B) FALSE