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Zero-based Budgeting
A budgeting method where all expenses must be justified for each new period, starting from a "zero base," without assuming that past budget allocations remain valid.
Budgeting System
A systematic approach to creating a financial plan that forecasts income and expenditures over a certain period.
Budget Acceptance
The process or act of formally approving a financial plan for revenues and expenses over a specific period.
Corporate Level
Pertains to major strategic decisions affecting the whole company, typically made by top-level management.
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