1. Discuss the following with regards to developing a budget:.
   1. The purpose of budgets and relevance of milestones and key performance indicators.
   2. What are some of the ethical considerations to consider in terms of assumptions and accuracy of forecasting?
   3. Identify the risks to a business when budgets are not created within proper ethical guidelines.
   4. Describe where an organisation might be able to source its data for budgeting purposes.
   5. There are two types of data for developing budgets i.e., quantitative and qualitative. In two or three sentences, describe each of them.
   6. Two examples of budget forecasting techniques are static and flexible budgets. Describe each in two or three sentences.
   7. Refer to the Organisational Policies and Procedures for Budgeting document. Describe its key features and explain why it is important for an organisation to have such a document.