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:

Line of Credit

A flexible loan from a bank or financial institution that offers a borrower the ability to draw funds as needed, up to a specified limit.