Participative Budgeting Is the Active Participation of All Affected Employees

question 131

True/False

Participative budgeting is the active participation of all affected employees in the formulation of the budgets.

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Definitions:

Purported Partners

Individuals who are claimed to be partners in a business, sometimes without the legal or actual basis for such a partnership.

Doctrine of Respondeat Superior

A legal principle that holds an employer or principal liable for the actions of an employee or agent when those actions occur within the scope of employment or authority.

RUPA

The Revised Uniform Partnership Act, which is a set of laws adopted by several states in the United States to govern the formation, operation, and dissolution of partnerships.

For Profit

An organization or activity aimed at making money, rather than serving a charitable or other non-financial goal.