Which of the Following Is Not a Characteristic of Bottom-Up

question 73

Multiple Choice

Which of the following is not a characteristic of bottom-up budgeting?

• A)It encourages organization-wide input into the process.
• B)It takes advantage of employees' intimate knowledge of operations when formulating plans.
• C)It is not as time consuming as top-down budgeting.
• D)It increases employees' commitment to achieving budget goals.

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Definitions:

Costume Jewelry

Jewelry made from inexpensive materials and imitation gems, designed to provide an attractive appearance at a lower cost than jewelry made from precious metals and stones.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service versus what they actually pay.

Equilibrium Price

The price at which the quantity of a good demanded by consumers equals the quantity supplied by producers.

Competitive Market

A market structure characterized by many buyers and sellers, free entry and exit, and a product for which each seller offers an essentially identical item.