The budget which usually takes the form of profit and loss account and balance sheet is known as:

CS Executive · Cost and Management Accounting · PYQS · June 2017
The budget which usually takes the form of profit and loss account and balance sheet is known as:
(A) Cash budget
(B) Master budget
(C) Flexible budget
(D) Labour budget

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Budgeting

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