The master budget contains the following components, among others: (1) direct-material budget, (2) budgeted balance sheet, (3) production budget, and (4) cash budget. Which of these components would be prepared first and which would be prepared last? FirstLastA.14B.12C.34D.32E.41
A. Choice A
B. Choice B
C. Choice C
D. Choice D
E. Choice E
Answer: D
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