Which of the Following Types of Budgeting Procedures Is the Most

question 100

Multiple Choice

Which of the following types of budgeting procedures is the most effective for measuring performance?

• A) Static budgeting
• B) Capital budgeting
• C) Flexible budgeting
• D) Strategic budgeting

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Definitions:

Representativeness Heuristic

A cognitive shortcut that involves judging the probability of an event by its similarity to a prototype or example.

Availability Heuristic

A mental shortcut that relies on immediate examples that come to a given person's mind when evaluating a specific topic, concept, method, or decision.

Heuristic

A rule-of-thumb or shortcut that is used to make decisions or solve problems more quickly.

Algorithm

A step-by-step procedure for calculations, data processing, and automated reasoning tasks.