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Which of the following statements is true of budgets? O A. Master budgets express management's operating and financial plans O B. Financial budgets are prepared

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Which of the following statements is true of budgets? O A. Master budgets express management's operating and financial plans O B. Financial budgets are prepared before the master budget is prepared. O C. Operating budgets are prepared independently of the master budget. The budgeted balance sheet is the first budget prepared as management is very much concerned with projected financial position D

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