Fill in the Blank QuestionFill in the blank question.The first step in preparing the master budget is planning the budget.

budgeting process.

What is the first step in creating a budget?*1 pointSetting financial goalsTracking all income and expensesCutting unnecessary expensesOpening a savings account

All of the following are ways that managers use the master budget except:Multiple choice question.to place blame on managersto help in the planning processto help in controlling coststo help in sensitivity analysis

Identify who is responsible for preparing the budget.Answer instructionsLibrary directors and managersLegislatorsPolicymakers

What type of budget must be made first?