Question 3

a.)Managers use capital expenditure budgets to plan for and control fixed asset costs. (True/False)

b.)Financial budgets include budgets for the cost of direct material and the cost of direct labor. (True/False)

c.) Cash budgets would be operational. (True/False)

d.)Operating budgets help managers forecast future profitability. (True/False)

e.) Financial budgets help managers prepare pro forma balance sheets. (True/False)