Continuous Budgeting Is the Practice of Preparing a New Budget

question 56

True/False

Continuous budgeting is the practice of preparing a new budget for a selected number of future periods and replacing budgets for periods that have lapsed.

---

Definitions:

Spatial Location Skill

The ability to recognize, remember, and manipulate the position of objects in space.

Cerebral Cortex

The outer layer of the cerebrum in the mammalian brain, involved in higher brain functions such as thought, memory, and decision-making.

Frontal Lobe

The part of the brain located at the front of each cerebral hemisphere, responsible for decision making, problem solving, and controlling behavior.

Personality

The combination of characteristics or qualities that form an individual's distinctive character, influencing thoughts, feelings, and behaviors.