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Explain why senior managers view the bottom-up budgeting process as being risky.
Airspace
The space above the ground in which aircraft can fly, also subject to property, safety, and national defense regulations.
Leasehold Estate
An interest in real property giving a tenant the right to possession and use of property for a specified time, under certain conditions.
Hierarchy Of Estates
A system that categorizes different types or interests in land and property, ranking them in order of importance or priority, commonly used in real estate and property law.
Conditional Estate
An ownership interest in which the holder has the same interest as that in a fee simple absolute except that this interest is subject to a condition.
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