James noticed that the sales budget for June indicated sales of $1,000.000, howevec, the cash budget for June indicated collections from custoriers totaled $890,000. James was concemed about this difference and brought it to the attention of the CFO. The CFOr likely response was: Muluple Choice This is an indication that there may be fraudulent activity, wht sales being understated on the budget. One of the departments revised their budget for cash receved by $110000 because they expected sales to be down for the month Cash collected would be less than sales becouse the company has estimated that a percentage of the sales recorded were co credit This is an errot by the budget manager and the CFO wall have it corrected