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What are the main steps involved in preparing a zero?based budget?
1-Identifying previous inefficiencies, using adaptative management processes and avoiding wasteful expenditure in planning.
2-Recognising different cost behaviour patterns, planning on a rolling basis and ignoring wasteful expenditure.
3-Analysing the cost of each activity, identifying alternative methods and assessing the consequences of performing the activity at different levels.
4-Updating the budget continually, setting performance standards and controlling performance monthly with the use of variance analysis.
sir why is the answer not 1? the correct answer is 3
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