Question: How does the Master Budget relate to strategy and long-term objectives? Explain how the performance of what-if analyses, sensitivity analyses, and scenario analyses can improve

  1. How does the Master Budget relate to strategy and long-term objectives?

  2. Explain how the performance of what-if analyses, sensitivity analyses, and scenario analyses can improve uncertainty in the budgeting process.

  3. Describe and provide suggestions for dealing with the behavioural issues of budgeting slack and lack of motivation among employees that might negatively affect a successful budgeting process.

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