One of the Approaches to Setting Budgets Is Known as the 'Top

question 53

Multiple Choice

One of the approaches to setting budgets is known as the 'top down' approach. This is best described as:

• A) setting the sales forecast and working from this to other budgets.
• B) budget targets set at the lowest level of management.
• C) budget targets set by senior management.
• D) production budget set first and working from this to other budgets.

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Definitions:

Cultural Differences

The variations in social norms, values, practices, and expressions among different societies and cultural groups.

Internal Attributions

The method of attributing behavioral causes to individual characteristics, qualities, capabilities, and emotions.

Personality Factors

Distinct traits or characteristics that make up an individual's personality, often studied in psychology to understand human behavior.

Internal Factors

Elements within an individual or organization that influence behavior, decisions, and outcomes, such as values, skills, attitudes, and emotions.