Zero-Based Budgeting Is Not as Time Consuming as Incremental Budgeting

question 161

True/False

Zero-based budgeting is not as time consuming as incremental budgeting.

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Definitions:

Tax

A required economic dues or other form of assessment exacted from a taxpayer by government authorities meant to finance government activities and assorted public costs.

Excess Supply

Occurs when the quantity of a good or service supplied is greater than the quantity demanded at a given price.

Supply Function

A mathematical expression representing how the quantity supplied of a good is influenced by its price and possibly other factors.

Demand Function

A mathematical expression that describes the relationship between the quantity of a good demanded and its price.