Which of the Following Should the Organization Use to Initiate

question 125

Multiple Choice

Which of the following should the organization use to initiate a budget?

• A)Last year's budget
• B)Last year's actual amounts
• C)Zero-based budgeting
• D)Any of the above

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Definitions:

Supply Of

The total amount of a specific good or service that is available to consumers, which can be influenced by factors such as price, production costs, and technology.

Potentially Efficient

A situation or condition that has the capability to achieve optimum productivity with minimal waste and expense.

Losses

Financial condition when a company's total costs exceed its total revenue, leading to a negative profit.

Market Failure

An economic situation in which the allocation of goods and services by a free market is not efficient, often leading to a net social welfare loss.