Budgeting Is Closely Linked to

question 45

Multiple Choice

Budgeting is closely linked to

• A) controlling and organizing.
• B) leading and planning.
• C) planning and controlling.
• D) organizing and leading.

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Definitions:

Statutory Assignment

A legal transfer of a right or interest under a statute, allowing the assignee to enforce it.

Novation

The act of replacing an old obligation with a new one, thereby extinguishing the original obligation.

Privity of Contract Rule

A legal principle stating that only parties involved in the creation of a contract can sue or be sued under the terms of that contract.

Statutory Assignment

A legal transfer of a right from one party to another, made under and governed by statutory law.