Management must make certain assumption about the business environment when preparing a budget. What areas should be considered?

b. Why is budgeted performance better than past performance as a basis for judging actual results? 4-5 paragraph a and b

c. Real-World Example Review the background material and do some research to learn about the budgeting practices of an existing business enterprise. Information can be found in the news, research papers, and on investment sites. Another option is to locate the financial statements for a company, make some assumptions, and prepare your own budget from an external point of view. Describe the situation and the results. Show computations when appropriate. 400 600 word