Which one of the following statements is true concerning the master budget for a not-for-profit company?
A)It will include only a budgeted balance sheet.
B)It will include a sales budget for sales revenue.
C)The starting point is expenditures rather than receipts.
D)It is based on revenues and expenses and omits cash flows.

Question

Quizplus · Accepted Answer

For a not-for-profit company, the master budget typically starts with expenditures because these organizations focus on planning their spending to meet their mission, rather than starting with revenue projections.

Which One of the Following Statements Is True Concerning the Master