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Which of the following statements is true regarding master budgets? Multiple Choice Most companies exclude selling and administrative expenses from the master budget because they
Which of the following statements is true regarding master budgets?
Multiple Choice
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Most companies exclude selling and administrative expenses from the master budget because they are period expenses.
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They can be used to estimate a companys need to borrow money in the future.
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They usually include a cash budget and a budgeted income statement, but not a budgeted balance sheet.
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Generally speaking, they are prepared for manufacturing companies, but not merchandising companies.
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