Determine the proper order of the steps in which a new company's master budget should be prepared. + Prepared first A. Performance report + Prepared second + Prepared last B. Budgeted Financial Statements C. Purchases Budget D. Flexible budget E. Sales Budget
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.
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![Determine the proper order of the steps in which a new company's master budget should be prepared.
+ Prepared first
A. Performance report
+ Prepared second
Prepared last
B. Budgeted Financial Statements
C. Purchases Budget
D. Flexible budget
E. Sales Budget](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fb896c165-d0a7-4e75-bc28-2507707f26c1%2F4ddd3527-2508-4ef8-92f8-98e5b3e3f0a8%2F73jff59_processed.jpeg&w=3840&q=75)
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