1. Explain what is meant by the term ‘Budget’. 

2. Identify four stages of strategic planning cycle and briefly explain how each stage of strategic planning cycle affects the budgeting operations of a company

3. Assume you are employed by a white goods distributor and have been asked to prepare a list of controllable (those things that the business can directly influence) and uncontrollable (those things that the business can’t directly influence) factors that might affect