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Question
Master budget is a __________.
Master budget is a __________.
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Solution
The correct option is B Summary Budget
The master budget is the aggregation of all lower-level budgets produced by a company's various functional areas, and also includes budgeted financial statements, cash forecast, and a financing plan. Master budget acts as summary budget acts as summary budget incorporating its component functional budgets and which is finally approved adopted and employed.
The master budget is the aggregation of all lower-level budgets produced by a company's various functional areas, and also includes budgeted financial statements, cash forecast, and a financing plan. Master budget acts as summary budget acts as summary budget incorporating its component functional budgets and which is finally approved adopted and employed.
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