MULTIPLE CHOICE 38 Puntos 1. 2. The operating budgets of a company include: a. the cash budget b. the capital expenditures budget c. the financing budget d. the production budget The financial budgets of a company include: a. the cash budget b. the capital expenditures budget c. the sales budget d. all the above e. only "a" and "b" are correct Supervisor salaries and indirect factory wages would normally appear in the direct labor cost budget. a. True b. False 3. 4. 5. A variant of fiscal-year budgeting whereby a twelve-month projection into the future is maintained at all times is termed: a. flexible budgeting b. continuous budgeting czero-based budgeting d. master budgeting The process of developing budget estimates by requiring all levels of management to estimate sales, production, and other operating data as though operations were being initiated for the first time is referred to as: a. flexible budgeting b. continuous budgeting czero-based budgeting d. master budgeting Assembly salaries and cutting department wages would normally appear in the direct labor cost budget. a. True b. False The sales budget is the starting point for preparation of the direct labor cost budget. a. True b. False 6. 7. 8. a. True The first budget to be prepared is usually the cash budget. b. False