(Answered) : Q1 Budgeting Important Management Tool Implemented Properly Identify Positive Results Budg Q30624326

Q1. Budgeting can be an important management tool if implementedproperly. Identify the positive results when budgets are usedproperly. Since budgets affect people, identify the negativeaspects if budgets are not implemented properly.(5 marks) Q2.“Accountants cannot measure opportunity cost. Only managers havethe knowledge to measure it”. Do you agree with this statement?Justify your answer. (5 marks) Q3. Managers base pricing decisionson both cost and market factors. In addition, they must alsoconsider ethical and legal issues. Describe the influence thatethics and the law have on pricing decisions. (5 marks) Q4.“Accountants want a flexible budget because costs are difficult topredict. They need the flexibility