u3 (Becker)
Becker College
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Exam (elaborations)
Flashcards Becker U3 P1
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---9December 20232023/2024A+
- 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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