A budget procedure that provides for the maintenance at all times of a 12-month projection into the future is called master budgeting.

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A budget procedure that maintains a 12-month projection into the future is typically referred to as continuous or rolling budgeting, not master budgeting. Master budgeting involves creating a comprehensive budget for the entire organization for a specific period, usually a year, incorporating all its various components like sales, production, and other expenses.

A Budget Procedure That Provides for the Maintenance at All