Which type of budget emphasizes the expected financial performance of an organization?

The master budget is a comprehensive financial planning document that includes all aspects of a company's operations. It emphasizes the expected financial performance of the organization by bringing together various individual budgets, such as the operating budget and the financial budget, along with projected income statements, balance sheets, and cash flow statements.

By consolidating these elements, the master budget provides a holistic view of an organization’s financial goals, operational performance, and resource allocation. This integrated approach allows management to assess the overall financial health of the organization and make informed strategic decisions.

While the operating budget focuses specifically on the revenue and expenses associated with day-to-day operations and the financial budget deals with the organization’s projected financial position, the master budget combines these elements and others to give a complete picture of expected financial performance. Thus, the master budget effectively serves as a tool for planning and controlling an organization's financial resources based on its strategic objectives.