A Budget That Is Developed by Both Top Management and Operating

question 79

Short Answer

A budget that is developed by both top management and operating personnel is referred to as a(n)______________________________.

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Definitions:

Discretion

The freedom to decide what should be done in a particular situation, often referring to judgment in professional and personal contexts.

Aggregate Demand

The complete need for every product and service within an economy at a specific overall price level during a certain time frame.

Aggregate Supply

The total supply of goods and services that firms in an economy are willing to sell at a given overall price level in a given time period.

Real GDP

The production of goods and services valued at constant prices.