The following five question examine the different types of budgeting covered in Module 22. Provide your response to each part by identifying the capital letter associated with the correct answer. PART ONE: Generally, the first of the following budgets to be prepared is the A. Cash budget B. Operations budget C. Sales budget D. Purchases budget ANSWER: PART TWO: In a manufacturing setting, the purchase budget is based on: A. The sales budget B. The production budget C. The manufacturing labor budget D. The cash disbursements ANSWER: PART THREE: Which of the following items is not typically considered in the development of the cash budget? A. Selling expenses B. Depreciation Expense C. Administrative expenses D. Purchases ANSWER: PART FOUR: budgets emphasize the expected cost of planned activities that will be consumed for a process, department, service product, or other budget objective. A. Master B. Activity-based C. Cash D. Capital ANSWER: PART FIVE Which of the following statements concerning zero-based budgeting is true? A. Zero-based budgeting specifies that every expenditure must be justified, B. Zero-based budgeting specifies that every line item must be rounded to the nearest thousand dollar increment. Zero-based budgeting is a variation of the incremental approach. D.Zero-based budgeting is mainly used to assess research and development departments and similar departments where the relationship between inputs and outputs is weakest