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1 a) Budget is an aid to management and not a Substitute for management. Comment. b) 'Flexible Budgets' are more, realistic and useful than '

1 a) "Budget is an aid to management and not a Substitute for management". Comment.

b) 'Flexible Budgets' are more, realistic and useful than ' Fixed Budgets'. Do you agree ? Explain.

c) 'Incremental Revenue should be more than 'Incremental Costs' , to process a product, after split-off point. Explain.

d) The imputed costs are nothing but opportunity costs. Explain.

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