1/Which of the following contains the fewest number of estimates?

a. cash budget

b. income statement budget

c. sales budget

d. purchases budget

e. balance sheet budget

2/At some point, direct labor costs will impact how many of the following

a.income statement

b.statement of cash flows

c.balance sheet

d.statement of retained earnings

3/Which of the following statements regarding an annual report is true?

a.Annual reports are optional for publicly traded companies

b.The management discussion and analysis section is all based on facts not opinions

c.The notes contain the methods used in preparing the financial statements

d.The auditor's report is prepared by the company