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Different Parts of the Master Budget

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

Which of these appears ONLY on the master budget?

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1. Which of these are NOT associated with manufacturing?

2. Which budget lets you figure out how much to charge to make a profit?

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About This Quiz & Worksheet

These quiz questions will let you see how thoroughly you understand concepts regarding the components of a master budget. The quiz asks you about which budget lets you figure out how much to charge to make a profit and more.

Quiz & Worksheet Goals

The quiz will take a look at what you have learned about master budget components, such as:

  • Components that appear on the master budget
  • The budget that tells you how much to charge to make a profit
  • Where you can see money coming into the organization
  • Users of the master budget

Skills Practiced

You will see how good you are at:

  • Interpreting information - verify that you can review information regarding various budgets and interpret it correctly
  • Information recall - access the knowledge you've gained regarding the pieces of a master budget
  • Knowledge application - use your knowledge to identify information contained in and relationships between different budgets

Additional Learning

Learn more by studying the information in the lesson titled Different Parts of the Master Budget. With this lesson you will:

  • Find out why even have a master budget
  • Discover the contents of the first page of a master budget
  • Examine how to quickly see the financial state of the organization
  • Look at how to include everyone in the organization as owners of a piece of the action
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