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2. (a) (i) What are the advantages and disadvantages of conventional budgeting versus zero-based budgeting? (ii) What organizational characteristics create likely candidates for zero-based budgeting?

2. (a) (i) What are the advantages and disadvantages of conventional budgeting versus zero-based budgeting?

(ii) What organizational characteristics create likely candidates for

zero-based budgeting?

(b) (i) What is variance analysis?

(ii) Explain the relationships among the static budget, flexible budget, and actual results.

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