What does a master budget comprise?
A、The budgeted statement of profit or loss
B、The budgeted cash flow, budgeted statement of profit or loss and budgeted statement of financial position
C、The budgeted cash flow
D、The entire set of budgets prepared
A、The budgeted statement of profit or loss
B、The budgeted cash flow, budgeted statement of profit or loss and budgeted statement of financial position
C、The budgeted cash flow
D、The entire set of budgets prepared
【参考答案及解析】
The master budget is the summary budget into which all subsidiary budgets are consolidated. It usually comprises the budgeted statement of profit or loss, budgeted statement of financial position and budgeted cash flow statement.The master budget is used in conjunction with the supporting subsidiary budgets, to plan and control activities. The subsidiary budgets are not in themselves a part of the master budget. Therefore option D is not correct.
The master budget is the summary budget into which all subsidiary budgets are consolidated. It usually comprises the budgeted statement of profit or loss, budgeted statement of financial position and budgeted cash flow statement.The master budget is used in conjunction with the supporting subsidiary budgets, to plan and control activities. The subsidiary budgets are not in themselves a part of the master budget. Therefore option D is not correct.