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Flashcards Becker U3 P1
- Exam (elaborations) • 9 pages • 2023
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U3 B.1. Strategic Planning 
Question 
Define a master budget. 
Answer 
A master budget documents specific short-term operating performance goals for a 
period of time, normally one year or less. The plan generally includes an operating 
(nonfinancial) budget as well as a financial budget. 
© Becker Professional Education. All rights reserved. 
U3 B.1. Strategic Planning 
Question 
List Porter's five external forces that affect the competitive environment and profitability 
of a firm. 
Answer 
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