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.