ASSESSMENT TASK 1 Written Questioning The following is a set of knowledge-based questions. Read the text section 'introduction' in the learner workbook, refer to training undertaken and provide your answer solutions to the following questions using your own words to demonstrate your consistent knowledge application. Note: 1. Ensure you answer all the following questions using the length guidelines above and quantity requirements applicable for the following relevant questions. 2. The space below does not indicate the size of the answer length. Follow above guidelines and keep typing and the space will expand as you type. If answers are recorded separate to this document, they must be attached at the back of this document. Question 1 Define the following terms using your own words and explain why they are important in an organisation's financial management approaches. a. Budget: b. Financial plan Question 2 Identify at least five accounting principles and briefly describe each accounting principle. Question 3 Identify and briefly explain at least five types of budgets