1.The final step in a master budget is the preparation of the:

a.	cash budget

b.	selling and administrative costs budget

c.	pro forma financial statements

d.

sales budget

2.

Ideal standards used in the budgeting process -

a	Requires that deviations between actual and budgeted results be minimized.

b	Do not factor in operating inefficiencies in the budgeting process

c	Is based on ideal working conditions but will permit some slack in operations

d	Allows for small deviations from perfection