The Master Budget Contains the Following Components,among Others: (1)direct-Material Budget,(2)budgeted
The master budget contains the following components,among others: (1) direct-material budget,(2) budgeted balance sheet,(3) production budget,and (4) cash budget.Which of these components would be prepared first and which would be prepared last? 
Definitions:
Contractual Rights
Rights granted to an individual or entity based on the terms of a contract.
Derecognition
The process of removing a financial asset or liability from a company's financial statements, usually because it has been sold, repaid, or no longer meets the criteria for recognition.
Financial Liability
An obligation to transfer cash or other resources as a result of past transactions or events.
Contractual Obligation
A contractual obligation is a duty or responsibility that one party is legally bound to perform under a contract agreement with another party.
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