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Which of the following estimates is not used in preparing a sales budget including a schedule of expected cash collections? Multiple Choice The number of units produced The selling price per unit The number of units sold The credit sales collection pattern Which of the following statements is true? Multiple Choice Control involves developing goals and preparing various budgets to achieve those goals. Control involves gathering feedback that enables organizations to make modifications as circumstances change. The definition of planning states that managers should be held responsible for those items-and only those items-that the manager can actually control. Control is usually is maintained independent from the budgeting process. Which of the following equations is used in a merchandise purchases budget? Multiple Choice Budgeted cost of goods sold + desired ending merchandise inventory - beginning merchandise inventory = Required purchases Budgeted cost of goods sold - desired ending merchandise inventory + beginning merchandise inventory = Required purchases Budgeted cost of goods sold - desired beginning merchandise inventory + ending merchandise inventory = Required purchases Budgeted cost of goods sold + desired beginning merchandise inventory - ending merchandise inventory = Required purchases