Traditional Budgeting Has Been Used Successfully for Many Years Because

question 85

Multiple Choice

Traditional budgeting has been used successfully for many years because

• A) it was simple and not time consuming.
• B) departments decide what they want to do.
• C) there is focus on results, not processes.
• D) the environment was stable and product mix was simple.

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Definitions:

Technical Capability

Refers to the skills, knowledge, tools, and processes that enable an organization to effectively design, produce, and deliver products or services.

Government Regulation

Laws and rules established by governments to control or manage certain activities, behaviors, or industries for the protection and benefit of society.

Consumer Products

Goods bought and used by consumers for personal or household purposes, including non-durable goods like food or durable goods like appliances.

Organizations

Entities comprised of multiple people working together towards a common goal, structured in a specific way to achieve objectives.