Question 26. A forecast set of final accounts is also known as: (A) Capital budget (B) Cash budget (C) Master budget (D) Sales budget Answer: (B) Cash budget
Question 27. (A) Loan taken by firm (B) Proceeds from asset disposal (C) Reduction in provision for doubtful debts (D) Cash sales Answer: (C) Reduction in provision for doubtful debts
Question 28. Which of the following budgets should be produced first? (A) Production budget (B) Purchases budget (C) Master budget (D) Sales budget Answer: (D) Sales budget