In an organization that plans by using comprehensive budgeting, the master budget is The booklet containing budget guidelines, policies, and forms to use in the budgeting process. The current budget updated for operations for part of the current year. A compilation of all the separate operational and financial budget schedules of the organization. A budget of a not-for-profit organization after it is approved by the appropriate authoritative body

In an organization that plans by using comprehensive budgeting, the master budget is The booklet containing budget guidelines, policies, and forms to use in the budgeting process. The current budget updated for operations for part of the current year. A compilation of all the separate operational and financial budget schedules of the organization. A budget of a not-for-profit organization after it is approved by the appropriate authoritative body

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

In an organization that plans by using comprehensive budgeting, the master budget is

The booklet containing budget guidelines, policies, and forms to use in the budgeting process.
The current budget updated for operations for part of the current year.
A compilation of all the separate operational and financial budget schedules of the organization.
A budget of a not-for-profit organization after it is approved by the appropriate authoritative body.

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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