The correct answer is: B. master budget
A master budget is a comprehensive financial plan for a business that outlines the company’s goals for the upcoming year. It is typically prepared by the company’s financial department and includes a variety of budgets, such as the sales budget, the production budget, the cost of goods sold budget, the operating expenses budget, the cash budget, and the capital expenditures budget.
The master budget is a critical tool for businesses of all sizes. It helps businesses to plan for the future, to track their progress, and to make necessary adjustments to their plans. It also provides a framework for communication and coordination between different departments within the company.
A cash budget is a financial plan that projects a company’s cash inflows and outflows over a specified period of time. It is used to ensure that the company has sufficient cash on hand to meet its obligations.
A flexible budget is a budget that is adjusted to reflect changes in the level of activity. It is used to more accurately reflect the company’s expected costs and revenues.
A fixed budget is a budget that is not adjusted to reflect changes in the level of activity. It is typically used for short-term planning purposes.
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