You have recently been introduced to the concept of budgeting. Issues discussed included:

1. the purpose of budgeting,
2. approaches used in budget preparation,
3. advantages and limitations of budgeting.

Your secondary school old students association has invited you to make a presentation on the above-mentioned concepts. Due to the threat of contracting the COVID 19 virus, you would not be able to travel to make a physical presentation at the meeting. The executives of the association have however, made a passionate appeal for you to write a memorandum that discusses the concepts in a to c.