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QUESTION 11 (a) Outline five (5) advantages of an Imposed style of budgeting. (b) Outline three (3) advantages of a Participative style of budgeting. (c) Outline three(3) advantages and three (3) disadvantages of a Zero-based budgeting approach. (d) Outline three (3) advantages and three (3) disadvantages of Rolling budgets. (e) Outline five (5) sources of information for budgeting. (1) Explain two justifications each for using both variable and absorption costing. (g) Explain briefly five (5) approaches to budgeting (h) Discuss the processes involved in Zero-based budgeting () Discuss ten (10) purposes or reasons for preparing budgets. () Define budget manual and outline five (5) information contained in a budget manual. (k) Explain the following concepts as used in Inventory Management System: Economic Order Quantity (include the formula) Maximum Stock level. (include the formula) (1) Discuss five (5) features of a good budget (m) Discuss five (5) differences between cost accounting and financial accounting. Please present your answer in a tabular form clearly headed "cost accounting' and 'financial accounting (n) Discuss four (4) principles that should guide the Accountant in the establishment of a Cost Accounting System for a medium sized Manufacturing Company

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