Question 1 Potter Corp., a manufacturing firm, is preparing its master budget for the upcoming year. Which of the following is true about a master budget? O It is always the same as a flexible budget. O It is developed for the actual level of output achieved. O It is developed for a given level of planned output. O It is developed at the end of the period. 2.5 pts

Potter Corp., a manufacturing firm, is preparing its master budget for the upcoming year. Which of the following is true about a master budget? It is always the same as a flexible budget. It is developed for the actual level of output achieved. It is developed for a given level of planned output. It is developed at the end of the period