TIONS 7-1 7-2 7-3 7-4 7-5 7-6 What is a budget? What is budgetary control? Discuss some of the major benefits to be gained from budgeting. What is meant by the term responsibility accounting? What is a master budget? Briefly describe its contents. Why is the sales forecast the starting point in budgeting? As a practical matter, planning and control mean exactly the same thing." Explain