Preparing the Operating Budget” Please respond to the following:
- From the e-Activities, discuss two (2) differences between Michigan’s budget and your state budget in terms of budget process, financial reporting, and costs analysis (fixed costs, step-fixed costs, and variable costs). Justify your response with examples.
- Discuss the pros and cons of forecasting over a five to ten (5-10) year period. Justify your response with examples.
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