Final answer:
The master budget includes operating, capital, and financial budgets.
Step-by-step explanation:
The answer to the question is B. False. The master budget actually includes several different budgets, including the operating budget, capital budget, and financial budget.
The operating budget focuses on the day-to-day operations of the business, while the capital budget looks at long-term investments in assets. The financial budget examines the overall financial health of the organization.