(a) What is a Budget? What are the four key uses/purpose of a Budget?

(b) How do Budgets assist Management with the Role of Planning?

(c) List four Benefits and four Limitations of Budgeting.

(d) How do Budgets support the role of Financial Management? How budget can assist in achieving Good Governance?

(e) For each of the following business operations explain why budgets are required

(i) Marketing

(ii) Production

(iii) Human Resources.