The most important budget among all budgets is _________.
A
Sales budget
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B
Flexible budget
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C
Master budget
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D
Cash budget
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Solution
The correct option is A Sales budget Sales budget is an estimation of sales which management expects in the future financial year. Budgeting is a very important activity for the business. Without the budget, its difficult for the companies to track the performance.
The first step in creating a master budget is to have sales budget. After the sales budget, all other functional budgets are prepared.