The Key Data Element on Which the Entire Budget Is

question 46

Multiple Choice

The key data element on which the entire budget is based is the:

• A)sales/revenue forecast.
• B)income statement budget.
• C)cash budget.
• D)balance sheet forecast.

---

Definitions:

Abraham Maslow

A renowned American psychologist who developed the concept of Maslow's hierarchy of needs, a theory that suggests psychological well-being is based on satisfying fundamental human needs.

Overjustification Effect

A psychological effect where introducing an external incentive for an activity someone already finds rewarding leads to a reduction in intrinsic motivation.

Externality Hypothesis

A theory suggesting that the costs or benefits of an individual’s or a firm’s actions are not fully borne or received by that individual or firm, but also affect others who were not involved in the original action.

Maslow's Hierarchy

A theory in psychology proposed by Abraham Maslow that human needs are arranged in a hierarchy from most basic physiological needs to higher-level needs for self-actualization.