Steven is currently in the process of projecting how much his firm will have to spend on supplies, travel, rent, advertising, and salaries for the coming financial year. Steven is working on the __________ budget.

Based on the process that Steven is doing in order to project how much his firm will have to spend for the coming financial year he is working on the master budget.

The master budget is an economic estimate that helps forecast and project the future of the company and establish the administrative process that must be followed to obtain the expected profits.

The main utility of this budget is to estimate the number of profits and the way in which they are carried out in the company.

This should include all the income and expenses of which the company is composed: sales, purchases, production, advertising, salaries etc, which allow knowing the global panorama of the organization.

Therefore, we can conclude that the master budget provides the operational and financial budgets, helping to project the future of the company.

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