1.Expressing plans for a business in financial terms is commonly called: a.master planning. b.budgeting. c.strategic planning. d.operational planning.

2. Which of the following budgets needs to be prepared prior to preparing a purchases budget? a.Selling and administrative expense budget b.Sales budget c.Cash budget d.All of these answers are correct.

3.Select the correct equation format for the purchases budget. a.Beginning inventory + expected sales = required purchases. b.Cost of budgeted sales + beginning inventory - desired ending inventory = required purchases. c.Beginning inventory + expected sales - desired ending inventory = required purchases. d.Cost of budgeted sales + desired ending inventory - beginning inventory = required purchases.

Please I need correct answers, I'm not completely sure about what option mark.