Question One: 1. By referring to the key materials and sample practice, you are asked to explain: (a) The definition of budgeting and its concept. (6 marks) (b) Three advantages of budgeting. You must explain the answer in bullet points (not in paragraph). (6 marks) Question Two: Ben & Jerry, CPAs, are preparing their sales budget for the coming year (2025). The practice is divided into three departments: auditing, tax, and consulting. Billable hours for each department, by quarter, are provided below. Department Auditing Tax Consulting Quarter 1 3,200 3,500 1,400 Quarter 2 1.800 2.100 1,700 Quarter 3 3,000 3,500 2,200 Quarter 4 2,100 2,200 1,800 Average hourly billing rates are auditing OMR65, tax OMR85, and consulting OMR120. Required Prepare the sales budget for 2025 by listing the departments and showing for each quarter and the year in total, billable hours, billable rate, and total revenue. A template has been provided for you to answer the question. Answer: Ben & Jerry, CPAS Sales Budget For the Year Ending December 31, 2025 Year Bilable Quarter 3 Billable Bilal Quarter 4 Billable Bilable Total Quarter 2 Billable Billable Billable Total Quarter 1 Bable Billable Total Total Total Hours Hours Hours Hours Rate Rey (OMR) (OMR) Rate Rev (OMR) (OMR) Hours Dept Rate Rev (OMR) (OMR) Rate Rev. (OMR) (OMR) Rey (OMR) Rate (OMR) Auditing Tax Consulting Totals Notes