Managers May Be More Willing to Accept a Budget If

question 53

Multiple Choice

Managers may be more willing to accept a budget if

• A)it is continuous.
• B)it is imposed.
• C)it is very hard to attain.
• D)they can participate in its development.

---

Definitions:

Equitable Remedy

A non-monetary court order to take or refrain from taking specific actions, granted when money damages are insufficient.

Accord and Satisfaction

A legal agreement between parties to settle a dispute by agreeing on an alternative obligation other than what was originally owed.

Novation

The act of replacing an existing obligation with a new one, effectively transferring the rights and duties to a third party.

Liquidated Damages

A contractual provision that determines in advance the amount of damages to be paid if a party breaches the contract.