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OUTLINE OF THE ASSIGNMENT The report would give a detail on the following topics: 1. Budget - What is a budget? Why budget? What are the characteristics of budgeting? What…

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1. McGraw-Hill/IrwinProfit PlanningChapter Nine 2. 9-2Learning Objective 1Understand whyorganizations budgetand the processes theyuse to create budgets. 3. 9-3The Basic Framework…