Question Three

i$.$ What are budgetary slacks? Explain how they can they can be a hazard in budget

preparation $(3$ Marks$)$

ii$.$ Outline any four $(4)$ circumstances or situations the top down budgeting system

may be useful. $(6$ Marks$)$

iii. List down any four $(4)$ benefits and drawbacks of the participative style of

budgeting $(6$ Marks$)$

iv$.$ Discuss the term Zero based budgeting, clearly stating where it can be applied

$(4$ Marks$)$

v$.$ List down any four $(4)$ benefits and drawbacks of Zero based budgeting

$(6$ Marks$)$