Question 2 (2 points) Saved While profitability is important to the success of a business, managers should also be concerned with the timing of cash flows because the lapse in time between inflows and outflows can cause business hardships if it is not prepared for cash shortfalls. O True O False Previous Page Next Page Page 2 of 76 Question 3 (2 points) Saved The first step in preparing an operating budget is to estimate the costs of providing the products for sale that period. True False Previous Page Next Page Page 3 of 76 Previous Page Next Page Page 4 of 76 Question 4 (2 points) Saved The turnaround time for cash invested in a business is usually short. In other words, the cash invested in the business reappears quickly as cash sales. O True False Previous Page Next Page Page 4 of 76