The master budget worksheet shows
A)forecasted income and expenses for the budget year.
B)month-to-month budget variances.
C)a reconciliation of this year's budget to last year's balance sheet.
D)all balance sheet and income statement accounts that relate to the annual budget.

Question

Quizplus · Accepted Answer

The master budget worksheet typically shows forecasted income and expenses for the budget year. It is a summary of all the budgets (such as sales, production, direct materials, labor, advertising, etc.) that are needed to achieve the company's financial objectives. The master budget is a comprehensive financial plan that serves as a basis for evaluating performance and making adjustments throughout the year.

The Master Budget Worksheet Shows