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Master Budget in Accounting: Definition, Components & Example

Instructions:

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

question 1 of 3

Which one of the following categories is NOT part of the master budget?

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1. Operating budgets do NOT contain of which of the following?

2. The cash budget is part of which main category of the master budget?

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About This Quiz & Worksheet

This quiz and worksheet will address your understanding of master budgets in accounting. Topics you will need to grasp include categories that are part of a master budget and what operating budgets consist of.

Quiz & Worksheet Goals

The quiz and worksheet will guide you to:

  • Identify what part of the main budget is the cash budget
  • Name the budget that is first produced when preparing a master budget
  • Recognize the budget that is based upon other budgets and comes last

Skills Practiced

Use the quiz and worksheet to practice the following:

  • Making connections - use understanding of the concept of the cash budget and how it is connected to the main budget
  • Information recall - access the knowledge you've gained regarding operating budgets
  • Knowledge application - use your knowledge to answer questions about master budgets in accounting

Additional Learning

Utilize this lesson named Master Budget in Accounting: Definition, Components & Example to learn more about budgets in accounting. The lesson will adhere to the following study objectives:

  • Recognize the importance of budgets in business
  • Identify the categories master budgets can fall under
  • Analyze examples of master budget components
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