Which of the following statements is NOT correct concerning the Cash Budget?
The Cash Budget should be prepared before the Budgeted Income Statement.
The Cash Budget should be prepared before the Budgeted Balance Sheet.
It is not necessary to prepare any other budgets before preparing the Cash Budget.
The Cash Budget builds on earlier budgets and schedules as well as additional data.
Answer : It is not necessary to make any other budgets before preparing the Cash Budget.
The statement is that "It is not necessary to make any other budgets before preparing the Cash Budget" not correct concerning the cash budget