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Question
_________ is the consolidated summary of the various functional budgets.
_________ is the consolidated summary of the various functional budgets.
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Solution
The correct option is A Master budget
Budgets are prepared for each of the function i.e. marketing budget, selling expenses budget, research & development budget. Once these budgets are prepared, a master budget is prepared which covers all the activities.Master budget is the aggregation of all other functional budget.
Budgets are prepared for each of the function i.e. marketing budget, selling expenses budget, research & development budget. Once these budgets are prepared, a master budget is prepared which covers all the activities.
Master budget is the aggregation of all other functional budget.
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