FIM Tutorial 14 Answers.doc - FIM Oct 2020 Tutorial 14...

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FIM Oct 2020 Tutorial 14 AnswersInstructions to candidates:[Total: 40 marks]Answer all the questions.Q1Required:(a)Preparea cash budget for each of the three months: January, February and March.(12marks)(b)Explainthe differences between zero-based budgeting (ZBB) and incrementalbudgeting.(8marks)[Total: 20 marks]ANSWER:
(12√ = 12 marks)(b)With conventional budgeting, indirect costs and support activities are prepared onan incremental basis. This means that existing operations and the current budgetedallowance for existing activities are taken as the starting point for preparing the

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