The first step in preparing the master budget is the ________.
A) cash budget
B) capital budget
C) operating expense budget
D) sales budget

Question

Quizplus · Accepted Answer

The first step in preparing the master budget is the sales budget, as all other budgets are dependent on the forecasted sales figures. Once the estimated sales figures are determined, the operating expense budget, capital budget, and cash budget can be prepared accordingly.

The First Step in Preparing the Master Budget Is the ________