Asked by Lauren Ferris on May 06, 2024
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The master budget consists of a number of separate but interdependent budgets.
Master Budget
A number of separate but interdependent budgets that formally lay out the company’s sales, production, and financial goals and that culminates in a cash budget, budgeted income statement, and budgeted balance sheet.
Interdependent Budgets
Budgets within an organization that are related and influenced by one another, requiring coordination for effective financial planning.
- Recognize the role and structure of the master budget.
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Learning Objectives
- Recognize the role and structure of the master budget.
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