Which of the following statements is false? Select one: a. The selling and administrative budget is typically prepared before the cash budget. b. The budgeted variable selling and administrative expense is calculated by multiplying the budgeted unit sales by the variable selling and administrative expense per unit. c. The direct labor budget begins with the required production in units from the production budget. d. The master budget consists of a number of separate and independent budgets. e. A continuous or perpetual budget is a 12-month budget that rolls forward one month (or quarter) as the current month (or quarter) is completed.

Which of the following statements is false? Select one: a. One benefit of following a well-designed budgeting processis a guarantee of future profits b. Budgeting forces managers to think about and plan for the future. c. According to responsibility accounting, a manager should be held responsible for those itemsand only those itemsthat the manager can actually control to a significant extent. d. Budgeted cash collections typically consist of collections on sales made to customers in prior periods plus collections on sales made in the current budget period. e. Budgets helps uncover potential bottlenecks.