PART I. Essay (10 Marks) C1 Direction(s): Read the questions carefully and answer the following question. 1. Trusler Company has always done some planning for the future, but the company has never Prepared a formal budget. Now that the company is growing larger, it is considering preparing a budget. Instructions: Write a memo to Jim Dixon, the president of Trusler Company, where it is requested to: 1- Identify the overall budget that comprise the master budget, 2- Identify the primary benefits of budgeting, 3- Discuss the essentials of effective budgeting