The number and types of budgets included in a master budget depend on the company's size and complexity.

Question

Quizplus · Accepted Answer

The number and types of budgets included in a master budget vary depending on the company's size and complexity. For instance, a small company may have only a few budgets, such as a sales budget, a production budget, and a cash budget, whereas a larger company may have more budgets, such as a capital expenditure budget, a research and development budget, and an advertising budget. Therefore, the types and number of budgets included in a master budget depend on the company's circumstances.

The Number and Types of Budgets Included in a Master