What Is the Sequence of Steps in Preparing the Master

question 85

Multiple Choice

What is the sequence of steps in preparing the master budget?

• A)Output from the financial budget is used to prepare the operating budget.
• B)Output from the operating budget is used to prepare the financial budget.
• C)Output from the financial budget is used to prepare the income statement.
• D)Output from the financial budget is used to prepare the operating expense budget.

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Definitions:

Stable Internal

Refers to internal, enduring attributes or traits of a person that are consistent across different situations and over time.

Unstable External

Contexts or environments that are unpredictable and change frequently, affecting behavior or performance.

Stable External

Factors outside of an individual that are consistent and unchanging, often influencing behavior and perceptions.

Incremental

Describes a process of making changes or improvements in small, gradual steps rather than large, significant leaps.