Which of the following is TRUE:

One of the strengths of budgets is that they are of little value in uncovering potential bottlenecks.

The cash budget is the starting point in preparing the master budget.

One disadvantage of budgeting is that budgeting makes it more difficult to coordinate the activities of the entire organization.

The selling and administrative budget is typically prepared after the cash budget.

The sales budget must be completed first; however, it is not the budget that is looked at for materials, labor and overhead.