Q28
A Master Budget consists of
A.
Sales budget
B.
Production budget
C.
Material budget
D.
All of the above
AnswerAnswer: Option D
Solution
Answer: Option D
Solution:
A Master Budget consists of Sales budget, Production budget and Material budget. The master budget is the aggregation of all lower-level budgets produced by a company's various functional areas, and also includes budgeted financial statements, a cash forecast, and a financing plan.