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Sir a master budget for a large international company will be appropriate to be fixed or flexible budget sir
Most likely it will be a fixed budget but will probably be updated periodically.
There are no rules – it is whatever the company decides is more useful for them.
Because that is what most companies tend to do. The original fixed budget is their overall target for the year. It is common to revise it every so often to have an idea as to how likely they are to actually hit the overall target.
However, again, there is no rule. Companies do whatever they feel is most useful for them.
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