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What are five basic principles, which, if followed, should improve the probability of preparing a meaningful budget? Why is each important? Define and explain a

  1. What are five basic principles, which, if followed, should improve the probability of preparing a meaningful budget? Why is each important?
  2. Define and explain a budget variance.

What is a favorable variance?

What is an unfavorable variance?

What is the purpose of computing variances?

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