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

CS Executive · Cost and Management Accounting · PYQS · December 2016
The budget which usually takes the form of budgeted profit and loss account and balance sheet is known as —
(A) Cash budget
(B) Master budget
(C) Flexible budget
(D) Sales budget.

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Management Accounting

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