The Most Useful Budget Figures Are Developed

question 52

Multiple Choice

The most useful budget figures are developed:

• A) From the "top-down".
• B) From the "bottom-up" following a participatory process.
• C) Solely by the budget committee.
• D) By the CEO.
• E) After the accounting period has begun.

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Definitions:

T-Account Close

A close that is based on the process that people use when they make a decision by weighing the pros against the cons.

Competitor's Product

A product that is offered by one company that serves as an alternative or rival to another company's product in the market.

Standing-Room-Only Close

A close whereby a salesperson suggests that if a prospect does not act now he or she may not be able to buy in the future, thus motivating the prospect to act immediately.

Summary of Benefits Close

A sales strategy where the salesperson summarizes the key benefits of the product or service, emphasizing its value to encourage purchase.