Which of the following statements is false?

Select one:

a. 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.

b. 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.

c. Budgets are of little value in uncovering potential bottlenecks.

d. One benefit of following a well-designed budgeting process is Improved performance evaluations.

e. Budgeting forces managers to think about and plan for the future.

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Which of the following represents a proper sequencing (correct order) in which the budgets below are prepared?

Select one:

a. Sales, Production, Manufacturing Overhead

b. Sales, Balance Sheet, Direct Labor

c. None of the given answers

d. Direct Material Purchases, Cash, Sales

e. Production, Sales, Income Statement