The master budget will comprise:O The cash budget, the budgeted profit and loss account and the budgeted balance sheetO The cash budgetO All the production, selling and cost budgets for the organizationO The budgeted profit and loss account and the budgeted balance sheet

In this question, we are required to determine the components of the master budget.

Answered: The master budget will comprise: O The…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter7: Budgeting

Section: Chapter Questions

Problem 16MC: Which of the following includes only financial budgets? capital asset budget, budgeted income...

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Similar questions

The direct materials budget is prepared using which budgets information? A. cash payments budget B. cash receipts budget C. production budget D. raw materials budget
Which budget is the starting point in preparing financial budgets? the budgeted income statement the budgeted balance sheet the capital expense budget the cash receipts budget
Identify the document that contains the information listed in these lines from the budgeted balance sheet shown. Cash Accounts receivable Raw materials inventory Computers Accounts payable
A company has prepared the operating budget and the cash budget. It is now preparing the budgeted balance sheet. Identify the document that contains each of these balances. A. cash B. accounts receivable C. finished goods inventory D. accounts payable E. equipment purchases
Which of the following includes only financial budgets? capital asset budget, budgeted income statement, sales budget production budget, capital asset budget, budgeted balance sheet cash budget, budgeted balance sheet, capital asset budget budgeted income statement, direct material purchases budget, cash budget
Which of the following describes the order in which the four types of budgets must be prepared? a. Production, sales, direct materials purchases, cash received on account b. Sales, production, direct materials purchases, cash budget c. Cash receipts, direct labor, production, sales d. Sales, direct materials purchases, production, cash disbursements
Which of the following is an operating budget? A. cash budget B. production budget C. tax budget D. capital budget
The cash budget is part of which category of budgets? sales budget cash payments budget finance budget operating budget
How would a human resources department use information in the operating budgets?
Identify the document that contains the information listed in these lines from the budgeted balance sheet shown. Accounts receivable Finished goods inventory Machinery Accumulated depreciation Notes payable Common stock
Prepare a budgeted income statement using the information shown.
What is the first step in preparing a master budget?

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The master budget will comprise: O The cash budget, the budgeted profit and loss account and the budgeted balance sheet O The cash budget O All the production, selling and cost budgets for the organization The budgeted profit and loss account and the budgeted balance sheet