The Master area allows you to define settings which apply for all tracks inserted into the project.   
The following setting options are available in the Master area:
Display area
Shows distribution of the surround sound. 
Slider
Adjusts the volume of all tracks in the project.
Button
Opens the Effect Chain Editor – Master window. This is where you can create an effect chain that can be assigned to all tracks.
Button
Opens the Project Settings window. 
 


Master Track Area