A budget is frequently prepared to combine all other budgets in a summary form. It is known as _____________.

Sales Budget

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Purchase Budget

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Cash Budget

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Master Budget

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Solution

The correct option is D Master Budget
The master budget is the sum total of all the divisional budgets that is prepared by all the divisions. Further, it also includes the financial planning, cash-flow forecast and budgeted profit and loss account and balance sheet of the organization.

Master Budget is the summary of the divisional budget.

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