Budget which specifies an operating and financial plan, usually for a fiscal year or any specific period of time is classified as

A. annual budget

B. operating budget

C. specific budget

D. master budget

Answer: Option D

Solution(By Examveda Team)

Budget which specifies an operating and financial plan, usually for a fiscal year or any specific period of time is classified as master budget. The master budget is the aggregation of all lower-level budgets produced by a company's various functional areas, and also includes budgeted financial statements, a cash forecast, and a financing plan.