A budget that gives a summary of all the functional budgets and budgeted statement of profit and loss is called —

CS Executive · Cost and Management Accounting · PYQS · June 2015
A budget that gives a summary of all the functional budgets and budgeted statement of profit and loss is called —
(A) Flexible budget
(B) Master budget
(C) Performance budget
(D) Zero base budget.

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Budgetary Control

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