A master budget: a. includes broad expectations and visionary results b. is an aid to coordinating what needs to be done to implement a plan c. should not be altered after it has been agreed upon d. includes only financial aspects of a plan and excludes nonfinancial aspects

A master budget: a. includes broad expectations and visionary results b. is an aid to coordinating what needs to be done to implement a plan c. should not be altered after it has been agreed upon d. includes only financial aspects of a plan and excludes nonfinancial aspects

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Question

A master budget:

includes broad expectations and visionary results

is an aid to coordinating what needs to be done to implement a plan

should not be altered after it has been agreed upon

includes only financial aspects of a plan and excludes nonfinancial aspects

Definition Definition Summary of all functional budgets such as lower-level budgets, cash flow forecasts, budgeted financial statements, and financial plans of an organization for the upcoming period. A master budget provides the financial information of the company on a periodic basis such as monthly, quarterly, half yearly or annually.

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