Activity-Based Budgeting

question 69

Multiple Choice

Activity-based budgeting

• A)is a more powerful planning and control tool than a functional-based budget system.
• B)starts with sales and production budgets similar to a functional-based budget system.
• C)is simpler to construct than a functional-based budget system.
• D)Both a and b above are correct.

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Definitions:

Union President

The elected leader of a labor union, responsible for representing the interests of the union’s members and directing its activities.

Mediation

In mediation, a neutral third party called the mediator listens to and reviews the information presented by both sides and then makes an informed recommendation and provides advice to both parties about what she or he believes should be done.

Labor Contracts

Legal agreements between employers and workers (or their representatives) that outline terms of employment, wages, benefits, and conditions of work.

Negotiations

The process of discussing terms between parties with differing interests to reach a mutual agreement or compromise.