various budgets

Please write 2 pages with 3 sources on the following:

Discuss the advantages and disadvantages of creating various budgets. Do you see any ethical issues that may arise in the preparation of the budgets we discussed this week?

from the professor:

This week is all about budgets. Capital budgeting decisions involve purchasing or upgrading fixed assets. The master budget is made up of a number of budgets depending upon the type of business you have. Flexible budgets are used instead of static budgets when there may be various levels of activities, revenues and expenses.