Question 1 Without a budget, there is no overall framework for the business to operate efficiently. Discuss. (5 marks)

Question 2 Explain any three (3) purposes of budgeting. (6 marks)

Question 3 Explain any two (2) advantages of budgeting. (4 marks)

Question 4 Explain any two (2) limitation of budgeting. (4 marks)

Question 5 Explain any three (3) differences between flexible and static budget. (6 marks)

Question 6 State any two (2) advantages and disadvantages/limitation of flexible and static budget.