The Type of Budget Which Serves as the Original Benchmark

question 6

Multiple Choice

The type of budget which serves as the original benchmark for evaluating performance is called:

• A) a static budget
• B) a flexible budget
• C) a balanced budget
• D) a cost budget

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Definitions:

Work Process

Describes the sequence of steps or tasks undertaken to produce a product or service, often emphasizing efficiency and quality.

Feedforward Controls

A management technique that involves monitoring inputs and providing feedback before tasks are carried out to ensure goals are met efficiently.

Preliminary Controls

Initial measures or procedures put in place to monitor and regulate processes or operations.

Objectives

Specific, measurable goals that are designed to achieve the overall aim of an individual or organization.