Short essay questions

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 -Short essays 2 to 3 paragraphs to answer each question (One page each question)  


1.Short essay-Incremental analysis Define the term "opportunity cost." How may this cost be relevant in a make-or-buy decision?   


2. Short essay- Budgetary planning  (a) What is a budget?  (b) How does a budget contribute to good management? 

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