On October 31,2013,Janie Mounce,manager of a Department in the Largest

question 45

Short Answer

On October 31,2013,Janie Mounce,manager of a department in the largest division of the XYZ Company,was contacted by the chairman of the budget committee.Janie needed to send her 2014 departmental budget to the committee.Instructions from the chair of the committee to all the department managers indicated that any revenue or expense items that deviated more than 5% from last year's budget needed a written explanation to be turned in with the budget.

Required:

Describe XYZ’s budget process as a top-down or bottom-up approach. What are the advantages and disadvantages of this budget process?

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Definitions:

Formed elements

Refers to the cells and cell fragments in blood, including red blood cells, white blood cells, and platelets.

Red blood cells

Oxygen-carrying cells in the blood, known scientifically as erythrocytes, critical for transporting oxygen from the lungs to tissues throughout the body.

White blood cells

Cells of the immune system involved in protecting the body against both infectious disease and foreign invaders.

Platelets

Fragments of cytoplasm in the blood that are crucial to clot formation; also called thrombocytes.