A master budget is best described as:

Multiple choice — select the best answer

AA budget covering only cash inflows and outflows
BA budget for a single department
CA comprehensive set of interrelated budgets covering all operations for a period
DA budget revised continuously each month

✓ Correct answer: C. A comprehensive set of interrelated budgets covering all operations for a period The master budget is the overall financial plan, integrating operating budgets and financial budgets into pro forma statements for the organization.

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Topic: Planning & Budgeting

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A master budget is best described as:

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