Question 1 1 pts Depreciation expense on assets used by administrative and selling departments is one expense that appears on the general and administrative expense budget but does not get included on the cash budget because it is a noncash expense. True False D Question 2 1 pts The process of planning future business actions and expressing those plans in a formal manner, usually in monetary terms, is called recapping, True False Question 3 1 pts A managerial accounting report that presents predicted amounts of the company's revenues and expenses for the budget period is called a budgeted balance sheet. O True O False Question 4 1 pts The budgeting process serves which of the following purpose(s)? It helps motivate employees and helps to effectively communicate with them. It communicates expectations. It helps coordinate activities toward common goals. It helps in evaluating results and management performance. All of the above Question 10 1 pts When a company adds one increment of time to its budget period as one increment of time expires, it is following the practice of preparing rolling budgets. True O False Question 11 1 pts The operating budgets and the capital expenditures budget provide all of the information necessary for the preparation of a budgeted income statement True False