The first budget customarily prepared as part of an entity's master budget is the _____ budget.
A)production
B)cash
C)sales
D)direct materials purchases

Question

Quizplus · Accepted Answer

The sales budget is the first budget customarily prepared as part of an entity's master budget. It outlines expected sales and is the foundation for other budgets, such as production, cash, and direct materials purchases, because it determines the level of activity for the entire operation.

The First Budget Customarily Prepared as Part of an Entity's