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Budgeting Concepts: Please respond to the following questions regarding budgeting and the budgeting process for a Company CBJ which has chosen not to develop budgets:

Budgeting Concepts:
Please respond to the following questions regarding budgeting and the budgeting process for a Company CBJ which has chosen not to develop budgets:
1.Identify and briefly discuss the benefits of budgeting for Company CBJ and the potential negative consequences of this decision.
2.What are the advantages and disadvantages of participative budgeting compared to top-down budgeting? Which would you suggest Company CBJ use. Explain.
3.What is the master budget and what are its components?
4.What is the ultimate goal or end result of Company CBJ's entire budgeting process?

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