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Budgeting is not legally mandatory but it is essential for business organisations. Budgeting is a key component in management short and long term planning. Critically

Budgeting is not legally mandatory but it is essential for business organisations. Budgeting is a key component in management short and long term planning. Critically evaluate. The assignment should cover the following aspects: 1. What is budgeting in business? 2. Types of budgets 3. Why is budgeting important in business

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