7) A master budget is a set of Budgets made Forecasts made Schedules and budgeted financial statements a) I b) II c) I and II d) II and III
Master Budget
A master budget can be defined as an estimation of the revenue earned or expenses incurred over a specified period of time in the future and it is generally prepared on a periodic basis which can be either monthly, quarterly, half-yearly, or annually. It helps a business, an organization, or even an individual to manage the money effectively. A budget also helps in monitoring the performance of the people in the organization and helps in better decision-making.
Sales Budget and Selling
A budget is a financial plan designed by an undertaking for a definite period in future which acts as a major contributor towards enhancing the financial success of the business undertaking. The budget generally takes into account both current and future income and expenses.
27) A
- Budgets made
Forecasts made- Schedules and budgeted financial statements
a) I
b) II
c) I and II
d) II and III
Step by step
Solved in 2 steps
