Self-Imposed Budgets Typically Are

question 36

Multiple Choice

Self-imposed budgets typically are:

• A)not subject to review by higher levels of management since to do so would contradict the participative aspect of the budgeting processing.
• B)not subject to review by higher levels of management except in specific cases where the input of higher management is required.
• C)subject to review by higher levels of management in order to prevent the budgets from becoming too loose.
• D)not critical to the success of a budgeting program.

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Definitions:

Sharp Recession

A severe and rapid downturn in economic activity.

Unemployment Rate

The fraction of the total employment market that remains without work but is eagerly searching for jobs and is willing to be employed.

Severe Recessions

Extended periods of economic decline around the world characterized by significant reductions in economic activity, high unemployment, and often deflation.

Stagflation

A situation in an economy where there is a combination of stagnant economic growth, high unemployment, and high inflation.