COTB MC Qu$.8-21($Static$)$ Which of the following statements is$...$

Which of the following statements is false with respect to the selling and administrative expense budget?

Multiple Choice

It excludes depreciation expense because selling and administrative expenses are period costs and not product costs.

It impacts the budgeted net operating income reported on the income statement.

It includes estimated variable and fixed selling and administrative expenses.

It estimates the cash disbursements for selling and administrative expenses that appear in the cash budget.