What is the last step in developing the master budget?
A)preparing the budgeted balance sheet
B)preparing the cost of goods manufactured budget
C)preparing the budgeted income statement
D)preparing the cash budget

Question

Quizplus · Accepted Answer

The last step in developing the master budget is preparing the budgeted balance sheet, which summarizes the organization's financial position at the end of the budget period. It is important to prepare the budgeted balance sheet after all other budgets are completed as it reflects the effects of all other budgets on the organization's financial position.

What Is the Last Step in Developing the Master Budget