The master budget includes:
A) Only operating budgets and financial budgets.
B) Only a capital expenditures budget and a cash budget.
C) Only a budgeted income statement and a budgeted balance sheet.
D) Only a cash budget and operating budgets.
E) Operating budgets, a capital expenditure budget, and financial budgets.

Question

Quizplus · Accepted Answer

The master budget includes both operating budgets, a capital expenditure budget, and financial budgets, which include the cash budget, budgeted income statement, and budgeted balance sheet.

The Master Budget Includes