• Briefly discuss the essential differences for a business between short-term, day-to-day decisions, and long-term, year-to-year ones. Your answer should include an example of each type of decision relating to an organisation with which you are familiar.
• b.What is the controllability principle? Using your own words and your own example, briefly discuss the difficulty of applying such a principle in practice.
• c.Describe six purposes for preparing budgets for organisations. For each of these purposes, give an example of how they might be relevant in an organisation you are familiar with.