Laureen Cooley is preparing a spreadsheet that shows inventory, sales, purchases, manufacturing, marketing, and operating expenses for her organization. This document is called a ________ budget
A) capital
B) strategic
C) master
D) tactical
E) minor
Answer is C
Rationale: A master budget (also called operating budget) includes all the operating costs for an entire organization, including inventory, sales, purchases, manufacturing, marketing, and operating expenses. The operating budget maps out the projected number of units to be sold and estimated income for the coming year, in addition to all anticipated costs of operating the business to manufacture and sell the estimated level of business.
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