Question 4 1 pts Which of the following statements is not true? Sales budgets are prepared before the cash budgets. Budgeted balance sheets are dependent upon budgeted income statements O Budgeted income statements include depreciation expenses O Production budgets show budgeted units to be produced. Cash budgets include depreciation expenses Question 5 1 pts When all the budgets (financial, operating, and budgeted financial statements) prepared by a firm are combined and integrated, it is called the singular budget. O. True False Question 6 1 pts The master budget is comprised of many separate budgets that are interdependent. True O False Question 7 1 pts The cash budget takes little critical thinking and is one of the least important of budgets. True False Question 8 1 pts A managerial accounting report that presents predicted amounts of the company's assets, liabilities, and stockholders' equity as of the budget period is called a budgeted income statement. O True O False 1 pts Question 9 A budget is a formal document stated in monetary terms that describes future plans of the business. True False Question 10 1 pts Because the cash budget computes an ending cash balance that is carried forward to the budgeted balance sheet, the cash budget must be prepared before the budgeted balance sheet True False D Question 11 1 pts The production budget is typically prepared prior to the sales budget. Trud False