Which Is the Last Step in Developing the Master Budget

question 35

Multiple Choice

Which is the last step in developing the master budget?

• A) Preparing the budgeted balance sheet
• B) Preparing the cost of goods manufactured budget
• C) Preparing the budgeted income statement
• D) Preparing the cash budget

---

Definitions:

Alveolar Air

The air present within the alveoli, the tiny air sacs in the lungs where gas exchange with blood occurs.

Atmospheric Air

The mixture of gases surrounding the earth, primarily composed of nitrogen, oxygen, argon, carbon dioxide, and trace gases.

Water Vapor

The gaseous phase of water, forming clouds and contributing to the greenhouse effect.

Pulmonary Capillaries

Tiny blood vessels in the lungs where gas exchange occurs, allowing for the uptake of oxygen and the release of carbon dioxide.