Question

A number of separate, but interdependent, budgets that formally lay out the company's sales, production, and financial goals are contained in the ______ budget.

Answer 1

A number of separate, but interdependent, budgets that formally lay out the company's sales, production, and financial goals are contained in the master budget.

What is the master budget?

A master budget is a financial plan that details how much money an organisation expects to bring in and spend within a fiscal year. Normally, this document presents financial data in quarters or months. To create a master budget that provides a complete view of a firm's finances, for example, a corporation might include its sales budget, the cost of goods sold, selling and administrative costs, cash budget, capital expenditures, inventory, total assets, and accounts payable. The master budget, which also includes budgeted financial statements, a cash projection, and a financing plan, is the culmination of all lower-level budgets created by a company's numerous functional departments.

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