Which of the following regarding operating budgets and financial budgets is TRUE?
A)Combined from the master budget
B)Are prepared after the master budget
C)Are prepared before the master budget
D)Have nothing to do with the master budget

Question

Quizplus · Accepted Answer

Operating budgets and financial budgets are components of the master budget, which is a comprehensive financial plan for the organization. The operating budget focuses on the income-generating activities of the organization, such as sales and production, while the financial budget includes elements like the cash budget, budgeted balance sheet, and capital expenditures budget. Both are essential parts of the master budget.

Which of the Following Regarding Operating Budgets and Financial Budgets