Which of the Following Approaches to Budgeting Requires Each Activity

question 13

Multiple Choice

Which of the following approaches to budgeting requires each activity to be justified each year?

• A)object-of-expenditure approach
• B)performance approach
• C)planning-programming-budgeting approach
• D)zero-based budgeting approach

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Definitions:

Price Ceiling

A legally imposed limit on how high the price of a product can be charged in the market, usually set to protect consumers from excessively high prices.

Minimum Imposed Price

A price floor set by the government or regulatory body, below which a good or service cannot be sold, often to protect producers.

Consumers

Individuals or groups that purchase goods and services for personal use rather than for manufacturing or resale purposes.

Producers

Entities that create, manufacture, or supply goods and services.