For the following questions, circle the best response.
The operating budget requires the preparation of many detailed budgets, including the following: (1) cash budget, (2) balance sheet budget, (3) sales budget, (4) income statement budget, and (5) purchases budget. In which order must these budgets be prepared?
a. 5, 3, 1, 2, 4.
b. 1, 3, 4, 5, 2.
c. 3, 5, 4, 1, 2.
d. 1, 2, 3, 5, 4.
e. 3, 5, 1, 4, 2.
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