The budgets within the master budget must be prepared in a definite sequence as dictated by GAAP.

Name: The budgets within the master budget must be prepared in a definite sequence as dictated by GAAP.
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While there may be a suggested order for preparing the various budgets within the master budget, there is no specific sequence that is mandated by GAAP. GAAP does not provide guidance on the order in which budgets should be prepared.

The Budgets Within the Master Budget Must Be Prepared in a Definite