Question: a How do flexible budgets differ from static budgets and how do you develop flexible budgets? (6 marks) b. Define the Master budget, Operating budget

a How do flexible budgets differ from static budgets and how do you develop flexible budgets? (6 marks) b. Define the Master budget, Operating budget and Financial budget, and briefly explain their relationship (8 marks)

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c. What were you expected to do when you grew up?

d. How were you expected to contribute to family life?

e. What do you know about your ethnic background?