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Define master budget. A. A master budget is a mathematical representation of the relationships among operating activities, financing activities, and other factors that affect the company. B. A master budget is a budget that focuses on the budgeted cost of the activities necessary to produce and sell products and services. C. A master budget is a budget that is always available for a specified future period. It is created by continually adding a month, quarter, or year to the period that just ended. D. A master budget is a single comprehensive document that combines information from many individual budgeted income statements. The term "master" refers to it being a comprehensive organization-wide set of budgets that coordinates all financial projections for a set period of time, for the entire organization