A master budget combines operational and financial budgets to represent a firm's overall plan of action for a specified time period.

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A master budget is a comprehensive financial planning document that combines all of the smaller, individual budgets created by different departments or areas of a company. It represents an overall plan of action for a specific period of time, usually a fiscal year, and includes both operational and financial budgets.

A Master Budget Combines Operational and Financial Budgets to Represent