________ is a major part of a master budget that focuses on the income statement and its supporting schedules.

Question

Quizplus · Accepted Answer

The operating budget is a major component of the master budget that deals with the income statement and its supporting schedules. It includes information on projected sales, cost of goods sold, and operating expenses, as well as expected profits and cash flow. The financial budget, on the other hand, focuses on cash inflows and outflows and the overall financial position of the organization. The continuous budget is an ongoing budgeting process that involves regularly updating and revising the budget throughout the year. The strategic plan is a high-level document that outlines the organization's long-term goals and objectives.

________ Is a Major Part of a Master Budget That