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What the master budget for a given accounting period

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Reference no: EM132598267

Question 1: The master budget for a given accounting period has all of the following except:

Multiple Choice

Option 1: It is considered the "grand plan of action" for the upcoming period.

Option 2: It culminates in a set of pro forma financial statements.

Option 3: It consists of a series of operating and financial budgets.

Option 4: It is based on the actual level of sales activity for the period.

Option 5: It is considered an important planning document for many organizations.

Reference no: EM132598267

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