109 A - Which of the following statements about a budgeted income statement is not true?

A	The budgeted income statement can be prepared in a multiple-step format.

B	The budgeted income statement is prepared after the financial budgets are prepared.

C	The budgeted income statement is prepared on the accrual basis of accounting.

D	The budgeted income statement is prepared using the individual operating budgets.

109 B - Which of the following would not appear as a fixed expense on a selling and administrative expense budget?

A	Depreciation

B	Freight-out

C	Office salaries

D	Property taxes