Budgets are usually prepared using spreadsheet software. (Click to select) The pro forma statement of cash flows is essentially the same as the cash budget. (Click to select) Pro forma financial statements must be prepared near the end of the budgeting process because they are affected by each of a company's budgets. (Click to select) Once the master budget is prepared, company managers should continue to review the budget and adjust it for changes in assumptions or conditions. (Click to select) Indicate whether each of the following statements is true or false. The accuracy of sales forecasts is critical to the effectiveness of a business's overall budgeting process. (Click to select) Sales estimates to be used in the budgeting process are usually prepared by the accounting department. (Click to select) Sales forecasts often are prepared using sophisticated computer programs and statistical techniques. (Click to select) A company's senior vice president for sales would be held responsible for the sales budget. (Click to select) Accompanying the sales budget is a schedule of cash payments for inventory, which is used in preparing the cash budget. (Click to select) Budgets are usually prepared using spreadsheet software. (Click to select) The pro forma statement of cash flows is essentially the same as the cash budget. (Click to select) Pro forma financial statements must be prepared near the end of the budgeting process because they are affected by each of a company's budgets. (Click to select) Once the master budget is prepared, company managers should continue to review the budget and adjust it for changes in assumptions or conditions. (Click to select) Indicate whether each of the following statements is true or false. The accuracy of sales forecasts is critical to the effectiveness of a business's overall budgeting process. (Click to select) Sales estimates to be used in the budgeting process are usually prepared by the accounting department. (Click to select) Sales forecasts often are prepared using sophisticated computer programs and statistical techniques. (Click to select) A company's senior vice president for sales would be held responsible for the sales budget. (Click to select) Accompanying the sales budget is a schedule of cash payments for inventory, which is used in preparing the cash budget. (Click to select)