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Key factors for budgeting, such as units of output, number of students, guests, or patients, are highlighted. The document then discusses the master budget, also known as the corporate budget, which comprises projected financial statements and is built from various operational budgets. Finally, it introduces Zero Based Budgeting (Z.B.B.) as a budgeting method. The document implicitly covers fixed budgets, flexible budgets, and incremental budgets by discussing how budgets are planned and adjusted based on anticipated and actual activities. Fixed budgets remain unchanged regardless of actual output or sales, while flexible budgets are adjusted to reflect changes in cost behavior patterns and activity levels. Incremental budgets use the current year's actual results as a starting point, with adjustments for expected changes. Rolling budgets are continuously updated throughout the financial year. 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