To Overcome Possible Problems with Budgets That Are Developed Only

question 49

Multiple Choice

To overcome possible problems with budgets that are developed only by top level managers, an alternative is to use:

• A) Mandatory budgets
• B) Authoritative budgets
• C) Flexible budgets
• D) Participative budgets

---

Definitions:

Fraudulent Activity

Deliberate deception to secure unfair or unlawful gain, or to deprive a victim of a legal right.

Income Tax Liability

The amount of money an individual or corporation owes to the government based on the taxable earnings for a fiscal period.

Income Tax Expense

Income tax expense is the amount of money a company is required to pay in taxes based on its taxable income for a given period.

Deferred Tax Expense

A financial reporting concept referring to the difference in taxes payable in the future due to temporary differences between the tax and book accounting.