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The Budget Procedure That Requires All Levels of Management to Start

question 188

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The budget procedure that requires all levels of management to start from zero in estimating sales, production, and other operating data is called continuous budgeting.


Definitions:

Impossibility of Performance

A legal doctrine where a party is released from a contract because events have occurred making it objectively impossible to perform the contract's obligations.

Subject Matter

The substance or core topic under consideration or dispute in a legal case.

Illegal

Actions or activities that are forbidden by law and subject to criminal penalties or fines.

Implied Warranty

A legal term referring to unwritten guarantees that the goods being sold meet certain quality standards.

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