The master budget incorporates individual budgets including those for

Question

Quizplus · Accepted Answer

The master budget consists of individual budgets for direct materials, direct labor, selling and administrative expenses, and other operational costs. It brings together all of the budgets to create an overall financial plan for the organization. It does not include budgets for multiple levels of sales volume, past and future accounting periods, or each employee in the company.

The Master Budget Incorporates Individual Budgets Including Those for