Each Year Caliente, Inc

question 116

Multiple Choice

Each year Caliente, Inc., follows a budgeting process.The first step is always to look at the previous year's budget and see if anything needs to be updated.Caliente uses ____ budgeting.

• A) Cash
• B) traditional
• C) capital
• D) zero-base
• E) historical

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Definitions:

Partnership

A sanctioned business setup where a group of individuals co-manage the operation and share the resulting income.

Legal Entity

A legally recognized organization or individual that has rights, responsibilities, and can enter into contracts.

Owners

Individuals or entities that possess legal rights and claims to the assets of a business.

Monthly Salary Allowance

A fixed amount of money or compensations given on a monthly basis, often excluding any bonuses or additional pay.