Master Budget Definition:

Master Budget is a summary of a company’s plans in which specific targets are set for sales, production, distribution, and financing activities and that generally culminates in a cash budget, budgeted income statement, and budgeted balance sheet.

Learn More About Master Budget:

• Define and explain the term “master budget”.
• What are the parts / components of master budget?
• How a master budget is prepared.
• What are its advantages and disadvantages? Give example of master budget.

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