Which of the following sequences is correct? Multiple Choice Inventory budget-production budget - sales budget-selling and administrative budget O Budgeted income statement - direct materials budget - production budget - sales budget Sales budget-production budget direct materials budget - budgeted Income statement Cash receipts budget-sales budget -- production budget-budgeted income statement Top down budgeting Multiple Choice when the local managers moose a budget on ne too management wtien top management sets the budget and imposes it on lower levels of the organization when top management impones a budget on the board of director when cuttomers moose a budget on top management of the company MacBook Air So 8: 3 s 4 6 & 7 8 E R T Y U 1