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problem 1:

a) Outline the helpfulness of budgeting to a manager.

b) Describe how an understanding of behavioral aspects of budgeting is significant to managers.

problem 2:

a) Differentiate between management accounting and financial accounting.

b) Describe the characteristics of good quality information.

c) Describe operational, tactical and strategic planning.

problem 3:

a) Describe the given type of cost standards

• Basic cost standards     
• Ideal standards            
• Currently attainable standards

b) State the possible causes of the given types of variances:

• Material              
• Labor              
• Sales

c) Describe the benefits and drawbacks of comprising employees in the standard setting process.

Macroeconomics, Economics

  • Category:- Macroeconomics
  • Reference No.:- M96593

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