The first budget prepared when developing a master budget is the sales budget.

Name: The first budget prepared when developing a master budget is the sales budget.
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The sales budget is usually the first budget prepared when developing a master budget because it serves as the foundation for all other budgets. It helps to forecast the expected sales revenue which forms the basis for forecasting other budgets like the production budget, direct materials budget, direct labor budget, and so on.

The First Budget Prepared When Developing a Master Budget Is