Final answer:
Jessica is working on developing the master budget, which is a comprehensive financial plan incorporating all the smaller budgets such as sales, production, and cash budgets.
Step-by-step explanation:
Jessica has been instrumental in developing various components that contribute to a company's overall financial planning. Given that she has worked on the sales budget, production budget, cash budget, and several other specific aspects of the budgeting process, Jessica is now involved in developing the master budget. The master budget is a comprehensive financial plan that includes all of the smaller, individual budgets that a company will use to operate and plan its financial activities for the upcoming period.
The operating budget, another term that might seem relevant, refers to the detailed plan for the revenues and expenses that the company anticipates in the normal course of business. Since Jessica is compiling different types of budgets, it indicates that she is creating a master budget, which is a collective representation of all the segmented budgets created earlier.