The first budget prepared in a master budget is the cash receipts budget.

Name: The first budget prepared in a master budget is the cash receipts budget.
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The first budget in a master budget is typically the sales budget, followed by the production budget, direct materials budget, direct labor budget, manufacturing overhead budget, selling and administrative budget, and finally the cash budget. The cash budget is prepared after all other budgets have been completed.

The First Budget Prepared in a Master Budget Is the Cash