Answer:
(B) The master budget includes operating budgets (e.g., production budget) and financial budgets (e.g., cash budget).
Explanation:
The master budget is a business approach which includes all the financial budget as well as the expected incoem statement adn balance sheet.
To do so, it wll need to prepare:
- the production budget (using sales budget)
- the purchase budget (using production)
- collection budget (using sales)
- cash budget (using all of the previous budget)
- And then combine all this data to create an income statement and balance sheet for the period.
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A capital gain is the return on an asset that results when its market price rises above the price an investor paid for it. A capital gain is the profit that someone receives from the sale of a property or an investment. If you invest in an item and then sell it for more than what you paid for it originally, then you have a capital gain because you profited off the item.
Scarcity refers to the gap between limited resources and theoretically limitless wants. Scarcity affects producers because they have to make a choice on how to best use their limited resources. On the other hand, it affects consumers because they have to make a choice on what services or goods to choose.