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List the three key benefits companies get from preparing the budget. What are the main components of a Master Budget?

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter10: Financing And Producing Goods

Section: Chapter Questions

Problem 11AA

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Question 1. List the three key benefits companies get from preparing the budget. What are the main components of a Master Budget?

Definition Definition Summary of all functional budgets such as lower-level budgets, cash flow forecasts, budgeted financial statements, and financial plans of an organization for the upcoming period. A master budget provides the financial information of the company on a periodic basis such as monthly, quarterly, half yearly or annually.

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