Access Samsung's income statement for the business year 2015. You can also find this information in Appendix A-15 in your textbook.

Required

1. Is Samsung's selling and administrative expenses budget likely to be an important budget in its master budgeting process? Explain.

2. Identify three types of expenses that would be reported as selling and administrative expenses on Samsung's income statement.

3. Who likely has the initial responsibility for Samsung's selling and administrative expense budget? Explain.