The usefulness of budgets depends heavily on the accuracy of financial statements and short-term and long-term financial forecasts. true or false

Capital budgets: Select one: a. Highlights a firms spending plans for major asset purchases b. Estimates cash inflows and outflows c. Tie together a firms other budgets and summarizes its proposed financial activities d. None of the above

The usefulness of budgets depends heavily on the accuracy of financial statements and short-term and long-term financial forecasts. Select one: a. True b. False

________ represents funds needed for a year or more. Select one: a. Gross profit b. Long-term funds c. Short-term funds d. Operating Costs

Firms can improve cash flows by aggressively collecting accounts receivables. Select one: a. True b. False