The Most Widely Used Approach to Budgeting Operating Expenditures Is

question 34

Multiple Choice

The most widely used approach to budgeting operating expenditures is

• A) Zero-base.
• B) Performance approach.
• C) Object-of-expenditure.
• D) Program and planning-programming-budgeting.

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Definitions:

Detrimental Reliance

A legal principle where a party suffers harm by relying on a misleading statement or promise of another.

Bargained-for Exchange

A fundamental principle of contract law that involves a mutual exchange of value or promises between parties.

Enforceable Promise

A commitment in a contract that is legally binding and can be upheld in court.

Substituted Contract

An agreement made to replace a prior contract, which was agreed upon by all original parties and extinguishes the obligations of the first agreement.