Question 7 1 pts Bo-Col Enterprises expects to operate at a profit in its next fiscal year. Which of the following statements about its budgeted income statement is correct? Operating expenses are expected to be greater than gross margin Gross margin is expected to be greater than selling and administrative expenses Net operating income is expected to be greater than sales Od Gross margin plus selling and administrative expenses will equal net operating income Question 8 1 pts Intentionally understating revenues or overstating costs during the budgeting process is called budgetary slack zero-based budgeting reality budgeting merchandise budgeting