Coming on when you accelerate narrows it down a lot. It won't be the master cylinder, but is likely to be either the parking brake switch (in many cars the parking brake operates that light also) or the brake fluid level is low. If the level is low don't top it up, take the car in for a brake visual inspection - it is free at most brake shops. The most common reason for low fluid is that the pads are badly worn and the next stage is rotor damage, but if it is a leak the inspection is even more important. Low brake fluid always has to be investigated.
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