inancial Planning and Forecasting Due Saturday 05.27.17 at 11:45 aded Assignment I Read Chapter 4 l Back to Assignment Keep the Highest 4 /8 Attempts 4 Aa Aa 10. Budgeting for cash which of the following statements are true with regard to a cash budget? Check all that apply. cash budgets provide less specific financial information than the percentage-of-sales method and the statement of cash flows. The single biggest disadvantage of the cash budget is that it is not useful in identifying a firm's potential cash shortages. A cash budget provides information about a company's ability to repay its loans or meet its other obligations. cash budgets can be used to plan, coordinate, and control a firm's activities. Assume that Dane Co. has the following accounts receivable pattern: Month of sale 50% Month following the sale 50% All sales are on credit. If sales in November and December are budgeted to be $900,000 and $1,000,000, respectively, the cash expected to be collected in December is Dane Co. purchases raw materials on account. Dane's policy is to take advantage of discounts and pay in the month following the purchase, some of Dane's suppliers do not offer discounts and ma navment Mitbin the month of