Budget consists of three major groups of budget components

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Reference no: EM13777529

1. A joint cost of producing two products can be allocated between those products on the basis of the relative physical quantities of each product produced.

TRUE

FALSE

2. The master budget consists of three major groups of budget components: the operating budgets, the capital expenditures budgets, and the financial budgets

TRUE

FALSE

Reference no: EM13777529

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