An interrelated set of budgets for a future period is known as:
A) a master budget.
B) a combined budget.
C) a program budget.
D) an assembly of budgets.

Question

Quizplus · Accepted Answer

A master budget is an interrelated set of budgets for a future period that constitutes a plan of action to achieve a specific set of objectives. It includes budgets for sales, production, purchases, personnel, capital expenditures, and cash flow. The master budget integrates and coordinates all the functional budgets into a unified whole, reflecting the goals and strategies of the organization.

An Interrelated Set of Budgets for a Future Period Is