The starting point in preparing a master budget is the preparation of the

A) production budget.
B) sales budget.
C) purchasing budget.
D) personnel budget.

Master Budget

A comprehensive financial plan that consolidates various detailed budgets within a company for a specific period.

Production Budget

A financial plan that estimates the number of units that must be produced within a specific time period to meet expected sales demand and inventory levels.

Sales Budget

A sales budget is an estimated amount of revenue that a company expects to earn from sales over a specific period.