Which of the Following Budgets Will Most Likely Be Prepared

question 56

Multiple Choice

Which of the following budgets will most likely be prepared last?

• A) Production budget
• B) Selling and administrative expenses budget
• C) Sales budget
• D) Cash budget

---

Definitions:

Primarily Liable

The entity or individual who holds the main responsibility for fulfilling an obligation or compensating for a loss.

Indorses

Acts of signing one's name on the back of a negotiable instrument, thereby transferring rights associated with the instrument to another party.

Negotiates

Engages in discussions aimed at reaching an agreement in situations involving varying interests.

Incomplete Note

A financial or promissory note missing essential details, making it unenforceable or incomplete until the information is furnished.