Tomek Is a Department Manager at Sly-Old-Fox Corporation

question 90

Multiple Choice

Tomek is a department manager at Sly-Old-Fox Corporation.His sole role in the budget process is to implement the budget that is developed for him.This is an example of:

• A) strategic budgeting
• B) operational budgeting
• C) top-down budgeting
• D) management by objectives
• E) bottom-up budgeting.

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Definitions:

Uniform Commercial Code Article 3

A section of the Uniform Commercial Code that governs negotiable instruments, such as checks and promissory notes.

UCC Article 4

A portion of the Uniform Commercial Code that governs bank deposits and collections.

Negotiable Instrument

An official paper that commits to paying a designated sum, either immediately upon request or at a predetermined date, clearly identifying the individual who will make the payment.

Drawer's Signature

is the signature of the person who has written and is responsible for the financial instrument, such as a check, authorizing its use and the payment it represents.