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CMA Pop Quiz #148: Part 1: Planning, Budgeting, and Forecasting

Here is the answer to this week’s quiz:

Which of the following is the element that if inaccurate will throw off all of the other master budget elements?

  • Capital Budget.
  • Sales forecast.
  • Production forecast.
  • Cash budget.
Correct Answer B

Without an accurate sales forecast, all other budget elements will be inaccurate because production levels, purchases, etc., are set to match expected sales.

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