When Developing the Budgets Each Year,most Companies Use

question 142

Multiple Choice

When developing the budgets each year,most companies use:

• A)a top-down approach.
• B)zero-based budgets.
• C)participative budgeting.
• D)slack-based budgets.

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Definitions:

Absolute Advantage

The ability of a party to produce a greater quantity of a good, product, or service than competitors using the same amount of resources.

Economic Basis

The fundamental factors that determine the structure and operation of an economy, such as its resources, technology, and social relations.

Terms Of Trade

The ratio at which a country can trade its exports for imports from other countries, indicating the economic value of goods a country can procure through international trade.

Specializing

The process of focusing on and becoming an expert in a particular subject or skill, often leading to increased efficiency and productivity.