What Does Management by Exception Refer to in the Budgeting

question 48

Multiple Choice

What does management by exception refer to in the budgeting process?

• A)rewarding exceptional effort.
• B)delegating responsibility, leaving management free for other things.
• C)concentrating most of management's efforts on those who do not achieve the budget.
• D)motivating staff to boost the reputation of the business.

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Definitions:

Compensation Process

The set of policies and mechanisms for determining employee pay, benefits, and other forms of remuneration.

Pay Level

A classification denoting the amount of compensation or salary assigned to a job, based on factors like complexity, responsibility, and market rates.

Pay Levels

The ranges of compensation provided to employees, often determined by experience, education, and role responsibilities within an organization.

Point Matrix

A quantitative tool used in job evaluation to assess the relative value of different positions within an organization based on predefined criteria.