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Which of the following is TRUE regarding the master budget? A. Budgeted balance sheet is prepared after the budgeted income statement. B. The budgeting process

Which of the following is TRUE regarding the master budget? A. Budgeted balance sheet is prepared after the budgeted income statement. B. The budgeting process starts with the cash budget. C. The direct materials budget is prepared before the production budget. D. The sales budget is prepared after the production budget.

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