1n preparing a corporate master budget, which one of the following is most likely to be prepared last?
A.   Sales budget.
B.   Cash budget.
C.   Production budget.
D.   Cost of goods sold budget
解析：
正确答案：B
考点：master budget
1. Cash budget （现金预算）是最后一个编制的，因为要根据operating budget 和cash collection and disbursement schedule确定企业在该期间有哪些cash inflow和cash outflow，这样才能编制cash budget。