The master budget may be comprised of:

Question

Quizplus · Accepted Answer

The master budget typically includes a variety of budgets, such as the sales budget, production budget, cash budget, and others. The production budget is a key component of the master budget as it outlines the expected production levels for the period, which in turn affects other areas such as direct materials usage and labor costs. The other options listed (income statement, balance sheet, statement of cash flows) are typically not part of the master budget, as they reflect historical or current financial information rather than projected future results.

The Master Budget May Be Comprised Of