Assume You Have Just Been Hired by a Large Manufacturing

question 182

Essay

Assume you have just been hired by a large manufacturing company and have been assigned to a team that has the responsibility of gathering the data for completing the company's master budget.Your first assignment is to make a presentation to a meeting of all department managers concerning preparation of the master budget and the importance of each department manager providing realistic estimates to the team.You and the other team members have had a brain storming session to determine what you should cover.The team has come up with some questions you should answer during your presentation.
Required:
Answer the following questions.
a.What is a master budget?
b.What are the component parts of the master budget?
c.How are the components related?

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Definitions:

Assumed Liabilities

Obligations that a company takes on when it purchases another company or its assets.

Acquiring Assets

The process of obtaining ownership or control of assets, which can include tangible property like real estate or intangible property like intellectual property rights.

Dissenting Shareholder Rights

Rights granted to shareholders who disagree with major corporate actions, like mergers, allowing them to receive payment for the fair value of their shares.

Merger Approval

The authorization granted by a regulatory body or shareholders for two or more companies to consolidate into one entity.