The Budgeting Philosophy That Bases Unit or Departmental Budgets on the Current

question 26

Multiple Choice

The budgeting philosophy that bases unit or departmental budgets on the current fiscal years budget and an adjustment factor is ____.

• A) bottom-up budgeting
• B) top-down budgeting
• C) incremental budgeting
• D) zero-base budgeting

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Definitions:

Medicare Payroll Tax

A tax collected from both employees and employers to fund the Medicare program, which provides health insurance to individuals aged 65 and older and to some younger people with disabilities.

Capital Gains Tax

A tax on the profit realized from the sale of a non-inventory asset that was greater than the purchase price, typically stocks, bonds, precious metals, and property.

Junk Foods

Foods with low nutritional value, typically high in fats, sugars, salt, and calories.

Health Maintenance Organization

An organization that provides or arranges managed care for health insurance, self-funded healthcare benefit plans, individuals, and other entities, on a prepaid basis.