QUESTION 1 Which of the following is not a benefit of budgeting? A. Management can plan ahead. B. Budget can be used as benchmark to evaluate performance. C. It enables disciplinary action to be taken at every level of responsibility. D. The coordination of activities is facilitated. QUESTION 2 Operating budgets include all the following budgets except the: A. Sales budget. B. Selling expense budget. C. Cash budget. OD. Production budget. QUESTION 3 The usual starting point for preparing a master budget is forecasting or estimating: A. Expenditures. B. Sales C. Production. D. Income