Question 21: The budget management process involves the use of the following resources:

1. Financial resource only which is used once the budget is implemented.
2. Human resource is for the preparation and implementation of budgets, Financial resource is for the production and implementation, And physical resource is to ensure we have the time and place to complete the tasks.
3. No resources are required to prepare budgets - They are prepared miraculously.
4. Resource is require money and it's not in the budget.

Question 22: the budget management process should include a communication plan:

1. That outlines the funding available to each department.
2. That customises the information based on audience and relevance.
3. That is sent out as a media release in a national paper.
4. That only communicates to upper management and not everyone involved in the budget process.

Question 23: Training staff involved in the budget management Process:

1. Is essential as it will enable all employees involved in preparing and implementing the budget to perform their roles to ensure they meet budget outcomes.
2. Enables management to delegate their tasks.
3. Involves external training that would not involve mentoring or coaching as this will cost the organisation money.
4. Is not ascential as staff were hired to know how to perform this role.

Question 24: Which of the following is a purpose or advantage of the master budget process:

1. Coordination of the activities of the different functional areas of the firm.
2. Communication to manage is of how their effort add value to the organisations products of services.
3. Forces management to establish profit objectives.
4. Provides a tool for evaluation and control.
5. All of these.