TB MC Qu$.8-2($Static$)$ Which of the following...

Which of the following statements is true?

The budgeted income statement is typically prepared before the budgeted balance sheet.

The cash budget is the starting point in preparing the master budget.

The production budget is typically prepared prior to the sales budget.

Multiple Choice

Only statement $1$one is true.

Only statement $3$ is true.

All of the statements are true.

None of the statements are true.