Answer (D) is correct . The financial budget normally includes the capital budget, the cash budget, the budgeted balance sheet, and the budgeted statement of cash flows.
Answer (A) is incorrect because All of the listed budgets are elements of the financial budget process.
Answer (B) is incorrect because All of the listed budgets are elements of the financial budget process.
Answer (C) is incorrect because All of the listed budgets are elements of the financial budget process.
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