The Most Important Part of a Budgeting System Is Getting

question 139

True/False

The most important part of a budgeting system is getting managers and employees to accept the budget.

---

Definitions:

Relative Frequency

The ratio of the number of times a particular value appears in a dataset to the total number of observations.

Categorical Data

Data that can be divided into groups or categories that are not numerically ordered.

Relative Data

Data that is compared to a certain reference point or to other data in order to assess its value or importance in relative terms.

Cumulative Data

Data that aggregates or accumulates over time, adding up as new data comes in to represent a total or sum.