Questions: The combined projected income statement and projected balance sheet showing an organization's objectives and proposed ways of attaining them is called its a.) Planned Operating Budget b.) Financial Budget c.) Master Budget d) Responsibility Budget

The answer is c.) Master Budget

A Planned Operating Budget typically focuses on the day-to-day operations of an organization, detailing expected revenues and expenses over a specific period. It does not encompass the entire financial picture, including the balance sheet.

A Financial Budget usually refers to the budget that includes the capital expenditures, cash flows, and financial position of the organization. It is more focused on the financial aspects rather than the comprehensive plan that includes operational details.

The Master Budget is a comprehensive financial planning document that includes both the projected income statement and the projected balance sheet. It outlines an organization's objectives and the proposed ways of attaining them, integrating all aspects of the business's financial planning.

A Responsibility Budget is focused on the financial performance of different segments or departments within an organization, holding managers accountable for their specific areas. It does not provide a complete picture of the organization's overall financial objectives and strategies.