Qu$.8-3($Static$)$ Which of the following...

ff the following statements is true?

master budget consists of a number of separate but interdependent budgets.

production budget is typically prepared before the direct materials budget.

e selling and administrative budget is typically prepared before the cash budget.

Multiple Choice

Only statement $2$ is true.

Only statement $3$ is true.

All of the statements are true.

None of the statements are true.