When Using ________,A Company Starts the Year with a Budget

question 100

Multiple Choice

When using ________,a company starts the year with a budget based on revenue and cost assumptions made at that point but then reviews economic performance every month or every quarter to see whether the budget needs to be modified as the year progresses.

• A) hedge-based budgeting
• B) scenario planning
• C) rolling forecasts
• D) product segmentation
• E) judgmental forecasting

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Definitions:

Frustration Of Purpose Doctrine

The Frustration of Purpose Doctrine is a legal principle allowing contract parties to be relieved from performing their obligations when an unforeseen event undermines the contract’s original purpose.

Impossibility Of Performance Doctrine

A legal principle that releases parties from their contractual obligations when an event occurs making performance objectively impossible.

Tender Of Performance

Tender of Performance refers to an offer by one party to perform their obligations under a contract, demonstrating readiness and willingness to fulfill the contract terms.

Bilateral Contract

A contract type involving two parties where each promises to perform an act in exchange for the other party's act.