17. The sales budget is used to prepare which of the following budgets? (The sales budget is used to prepare which of the following budgets?) a. operating expenses b. production budget c. direct materials budget d. direct labor budget 18. Investment centers and income centers differ in that investment centers: (Investment centers differ from profit centers in that they a. are responsible for net income only b. they can invest in resources or assets for the company (are able to invest in assets) chave less responsibilities than cost centers and profit centers d they are only responsible for revenues 19. A variant of fiscal year budgeting whereby a twelve-month projection into the future is always maintained is known as: is maintained at all times is terminated) a. flexible budgeting b. continuous budgeting c. zero-based budgeting d. master budgeting 20. The budgeted statement of position does not incorporate the financial and operating budgets of a company. (The Budgeted Balance Sheet does not incorporate the financial and operational budgets of a company.) a. true b. false (false) 21.According to the information described below, the production budgeted production for product XXX during the month is: (According to information presented below, budgeted production for product XXX during the month is Estimated Beginning inventory Estimated Ending Inventory Expected Sales Volume Product XXX 30,000 units 32,000 units $20,000 units The unit selling price for product XXX is SS (The unit selling price for product XXXXX is $5) a. 522.000 units b. $2,590,000 $18,000 units d $2,610,000 22. The net income reported in the company's income and expense statement is equal to the cash received as a result of the company's operations (The net income reported in the company's income statement is equal to the cash received as a result of the company's operations) a true b. false (false) 23. The budget summarizing the company's future plans for the acquisition of Sued assets is: (The budget that summarizes future plans for the acquisition of fixed assets is the) a purchases budget b. production budget csales budget d. capital expenditures budget