T/F

The budgeted balance sheet and income statement are normally completed after preparation of operating and capital expenditure budgets True or False True True False The selling expenses budget is normally prepared before the sales budget because selling expenses affect the amount of sales. True or False True False Part of the budgeting process is summarizing the financial statement effects on the budgeted income statement and the budgeted balance sheet True or False True False The sequence of the budgets within the master budget begins with the capital expenditures budget True or False True True False False