In budgeting, the cash budget and the budgeted financial statements are together known as the ________.

Select one:

a. production budget

b. financial budget

c. operating budget

d. master budget

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In master budgeting when preparing the budgeted income statement, which of the following is the source for the amount of Cost of Goods Sold?

Select one:

a. operating expense budget

b. sales budget

c. schedule of disbursements for operating expense

d. purchases and cost of goods sold budget

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In cost volume profit analysis, the margin of safety in units measures..

Select one:

a. how far variable costs can rise before an operating loss occurs

b. how far sales can fall before an operating loss occurs

c. how far total costs can rise before an operating loss occurs

d. how far fixed costs can rise before an operating loss occurs