On the cash budget, certain items' amounts for the year are not the sum of the quarterly amounts. Which one of the following is a correctly stated example of this?

Multiple Choice

Cash received in one quarter for sales made in a prior quarter will cause quarterly receipts not to add up to total receipts for the year.

When borrowing is necessary, cash needs for the year are greater than the sum of cash needs for each quarter.

Beginning cash for the year is the same as beginning cash for the first quarter.

Interest is included in the quarterly amounts but not in the total for the year.