A Budget Where Managers Must Justify All Costs Based on Need

question 7

Multiple Choice

A budget where managers must justify all costs based on need is a(n)

• A)zero-base budget.
• B)participatory budget.
• C)continuous budget.
• D)incremental budget.

Recognize the differences between civil law and criminal law and their applications to real-world scenarios.

Grasp the concept and importance of stare decisis within the legal system and for businesses and individuals.

Comprehend the principles and applications of cost-benefit analysis in legal changes.

Identify the legal implications of operating a business internationally, including compliance with local laws and regulations.

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Definitions:

Level of Service

A measure of the quality of service provided, often used in the context of public transportation or customer service, indicating efficiency, responsiveness, and satisfaction.

Utilization Rate

This measures the efficiency with which capacity is used, often expressed as a percentage of total available capacity.

Exponential Distribution

A statistical distribution used to model time between events in a process that occurs continuously and independently at a constant average rate.

Poisson Distribution

A mathematical representation that quantifies the odds of various event frequencies occurring within a predetermined span of time or space.