Question: Question 2 A budgetary planning and control system may include many individual budgets which are integrated into a master budget. You are required to outline

Question 2

A budgetary planning and control system may include many individual budgets which are integrated into a master budget.

You are required to outline and briefly explain with reasons the steps that should normally be taken in the preparation of master budgets in a manufacturing company, indicating the main budgets which you think should normally be prepared.

(40 marks)

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