Budgets Are Generally More Effective If They Are ________

question 61

Multiple Choice

Budgets are generally more effective if they are ________.

• A)created with the active participation of all affected employees
• B)understood and accepted by affected managers
• C)supported by top management
• D)all of the above

---

Definitions:

Constant Returns

A situation in economics where increasing the scale of production does not affect the long-run average cost of production, implying it remains constant.

Initial Plant Sizes

The original capacity or scale of a facility when it first begins operations.

Purely Competitive

Characterizes a theoretical market structure emphasizing perfect competition, where numerous small firms face no barriers to entering or exiting the market.

Long Run

A period in which all inputs, including capital, are variable, allowing firms to adjust all factors of production.