Which of the Following Statements About Budget Acceptance in an Organization

question 95

Multiple Choice

Which of the following statements about budget acceptance in an organization is true?

• A) The most widely accepted budget by the organization is the one prepared by top management.
• B) The most widely accepted budget by the organization is the one prepared by the department heads.
• C) Budgets are hardly ever accepted by anyone except top management.
• D) Budgets have a greater chance of acceptance if all levels of management have provided input into the budgeting process.

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Definitions:

Statute Of Repose

Basically, a statute of limitations that is not dependent on the happening of a cause of action. Statutes of repose generally begin to run at an earlier date and run for a longer period of time than statutes of limitations.

Product Liability

Refers to the legal responsibility of manufacturers and sellers to compensate for harm caused by defective or unsafe products.

Damages Available

The types of compensation that a plaintiff can seek in a lawsuit, depending on the circumstances and the nature of the legal claim.

Warning Defect

is a term used in product liability to describe a situation where a product lacks adequate instructions or warnings, potentially leading to misuse or harm.