17. A unit of an organization which is led by a manager who has both the authority over and responsibility for the unit's performance is known as a a. control center b. budgetary center c. responsibility center d. managerial department 19. Factors included in the preparation of a sales budget would NOT include: a. Planned advertising and promotions b. Expected commissions for the salesmen c. Projected pricing changes d. Expected industry and general economic conditions 20. Which of the following statements about the budgeting process for a manufacturing company is NOT correct? a. The master budget is an integrated set of budgets that tie together a company's operating, financing, and investing activities into an integrated plan for the coming year. b. The master budget begins with preparing the operating budgets. c. The first operating budget prepared is the sales budget. d. After the sales budget is prepared, the cash budget is normally prepared next. 22. Which of the following is NOT correct? a. A merchandising company uses a purchases budget instead of a production budget. b. For a service provider, a critical factor in budgeting is coordinating professional staff needs with anticipated services. c. For non-profit organizations, the budget is prepared on the basis of cash flows (expenditures and receipts), not on a revenue and expense basis. d. Government entities do not prepare budgets