In a separate word document provide detailed responses including examples to support your explanations to the questions below Responses in less than two lines will not be acceptable Please use supplementary resources library and accredited internet sites Responses using AI will not be marked Instruction a Explain what is meant by the term Budget and outline the key purposes for preparing a budget b Assume you are employed by a white goods distributor and have been asked to prepare a list of Controllable factors those things that the business can directly influence and Uncontrollable factors those things that the business cant directly influence that might affect the sales of refrigerators in the coming year You must supply at least 3 controllable and 3 uncontrollable factors Use the table below for your answer Controllable factors Uncontrollable factors Pricing Strategy eg Offering discounts during peak summer months to boost refrigerator sales Weather Conditions Seasonal demand variations can affect sales trends Eg More refrigerators are sold in summer than in winter Marketing Advertising Campaigns eg Social media ads highlighting energyefficient appliances Economic Conditions Changes in inflation interest rates affect consumer spending Customer Service Sales Training training staff to handle objections manage postsale services Competitor Actions eg Competitors may offer discounts a major brand launches a refrigerator with cutting edge technology c Identify two 2 key principles of budgetary control In your own words briefly explain how each principle is applied to the business