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:

Self-Employment

The state of working for oneself as a freelance or the owner of a business rather than for an employer.

Goods

Tangible items that are manufactured or produced for sale.

Circumstances

The specific conditions or facts affecting a situation, event, or decision at a certain time.

Evidenced

Evidenced refers to the confirmation or support of a claim, assertion, or fact through the presentation of information, data, or tangible proof.