All of the following statements regarding cash budgets are true, except: A. Most firms must maintain a minimum cash balance in order to operate their business. B. It is more important for a cash budget to detail when sales are made than when cash is received from our sales C. A cash budget would detail when payments for equipment are made, not when the equipment is received. D. If our cash balance falls below the minimum need to operate, we would need to borrow sufficient funds to attain the minimum threshold. Fab Manufacturing Corporation manufactures and sells stainless steel coffee mugs. Expected mug sales at Fab (in units) for the next three months are as follows: Fab likes to maintain a finished goods inventory equal to 30% of the next month's estimated sales. How many mugs should Fab plan on producing during the month of November? A. 23, 200 mugs B. 26, 800 mugs C. 25, 900 mugs D. 34, 300 mugs Sparks Corporation has a cash balance of $7, 500 on April 1. The company must maintain a minimum cash balance of $6,000. During April, expected cash receipts are $48,000. Cash disbursements during the month are expected to total $52,000. Ignoring interest payments, during April the company will need to borrow: A. $3, 500 B. $2, 500 C. $6,000 D. $4,000 A monthly cash budget is more useful than an annual forecast because: I. It can more precisely estimate the amount of financing needed. II. It can better estimate the timing of financing need. A. I only B. II only C. Both I and II D. Neither I nor