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Management Accounting Test Question No BUD1 on Budgeting: (a) Define giving examples, the term principal budget factor and explain its importance in budgeting (b) Discuss the human behavioral problems associated with budgeting. Identify 3 behavioral problems associated with budgetary control © Give 4 criticisms of traditional budgetary control systems (d) Describe 4 benefits that a system of budgetary planning and control may bring to an organization. (e) A company is preparing production, sales, material usage and finished stock budgets. State the order in which the 4 budgets would be prepared. |