Que. 1 : Q1) _____________refers to unit(s) responsible for preparation of budgets and application of budgetary control. 1. a) Budget centre 2. b) Expense centre 3. c) Cost centre 4. d) Income centre Que. 2 : Q2) Which ratio are the ratios between operating expenses(i.e. manufacturing overhead, office and selling expense) and sales? 1. a) Liquidity ratio 2. b) Activity ratio 3. c) Loss…