Question

    Which of the following budgets is considered the primary

    budget prepared in a business organization?
    A Flexible Budget Correct Answer Incorrect Answer
    B Cash Budget Correct Answer Incorrect Answer
    C Master Budget Correct Answer Incorrect Answer
    D Capital Expenditure Budget Correct Answer Incorrect Answer

    Solution

    The master budget is the comprehensive financial plan that consolidates all functional budgets (sales, production, cash, etc.). It includes budgeted income statements and balance sheets.

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