Briefly describe two (2) limitations that may restrict the budgeting process.

2.List down the various controllable and uncontrollable factors that affect revenue forecasting.

3. What are the different techniques of forecasting? Explain in brief.

4. What are the different types of budgets? Explain the term Master budgets?

5. Explain the terms:

(a)A cash budget

(b) Responsibility accounting

(c)Management by exception