Use the Information Below to Answer the Following Questions

Multiple Choice

Use the information below to answer the following questions.
Saddle Company, a leather manufacturer, has a sales budget of $500,000 for February. The cost of sales is estimated to be 35% of sales. All materials purchased by Saddle Company are paid for in the month following the purchase. The beginning inventory for February is $10,000, and an ending inventory of $11,000 is desired. The trade payables balance at the beginning of February is $88,000.
-On certain occasions, managers may be prepared to release projected information to those outside the business. All the following circumstances could justify the release of information, except

A) when managers feel that the business is under threat of a takeover.
B) when asked by competitors.
C) when making an offer of new shares to the public.
D) when trying to raise finance for the business.