Q8: Organisations have policies and procedures which relate to budgeting and forecasting. Circle the letter that indicates which key features should be included: The policy framework should include: 1. Who has the responsibility of overseeing the budget; Who has the responsibility for approving the budget; 2. 3. When the budget should be prepared and the timeline of the budget; 4. How to prepare the budget (what the process is); 5. How the budget is to be submitted, approved and distributed; How the budget is monitored; 6. 7. Who is responsible for monitoring the budget; Key features included in the budgeting policy framework are? a) 1; 2; 6 b) 2; 4; 6; 7 c) 1; 3; 4; 5; 6 d) 1; 2; 3; 4; 5; 6; 7 e) 4; 6; 7