The Evaluation Phase of the Budget Process Occurs After the Close

question 9

True/False

The evaluation phase of the budget process occurs after the close of the budget year to ensure managers have an incentive to meet budget targets.

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Definitions:

Intrinsic Motivation

The drive to engage in an activity for its own sake, deriving pleasure and satisfaction from the activity itself rather than external rewards.

Secondary Motivation

The drive to perform an action or engage in behavior based on external rewards or pressures, rather than intrinsic or personal desires.

Delay Of Gratification

The act of forgoing an instant gratification in favor of receiving a reward at a later time.

Hierarchy Of Needs

A theory in psychology proposed by Abraham Maslow that outlines five levels of needs that motivate human behavior, arranged in a hierarchical order.