120. Indicate the order in which the following budgets would be completed (1 = first and so on) ______ (A) Cash budget ______ (B) Budgeted income statement ______ (C) Sales budget ______ (D)...

120. Indicate the order in which the following budgets would be completed (1 = first and so on)

______ (A) Cash budget

______ (B) Budgeted income statement

______ (C) Sales budget

______ (D) Production budget

______ (E) Operating expense budget

121. Indicate the order in which the following budgets would be completed (1 = first and so on)

______ (A) Merchandise purchases budget

______ (B) Capital expenditures budget

______ (C) Selling expense budget

______ (D) Budgeted balance sheet

______ (E) Cash budget