Question: a. Briefly discuss the essential differences for a business between short-term, day-to-day decisions, and long-term, year-to-year ones. Your answer should include an example of each

a. Briefly discuss the essential differences for a business between short-term,

a. Briefly discuss the essential differences for a business between short-term, day-to-day decisions, and long-term, year-to-year ones. Your answer should include an example of each type of decision relating to an organisation with which you are familiar. (7 marks) b. What is the 'controllability principle'? Using your own words and your own example, briefly discuss the difficulty of applying such a principle in practice. (6 marks) c. Describe six purposes for preparing budgets for organisations. For each of these purposes, give an example of how they might be relevant in an organisation you are familiar with. (12 marks)

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