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Which of these is NOT true about master budgets? The process starts with the sales budget The process is useful for estimating the financing needed

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Which of these is NOT true about master budgets? The process starts with the sales budget The process is useful for estimating the financing needed to cover seasonal cash shortages The process generates only the cash budget and does not result in accrual statements (e.g. income statement) The process analyzes the difference between selling to a customer (revenue) and when the customer pays (cash receipt)

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