A Rolling Budget Is a Specific Budget Application Relevant Only

question 70

True/False

A rolling budget is a specific budget application relevant only to a merchandising company.

---

Definitions:

Means Acceptance

The acceptance of an offer in contract law through the performance of the conditions stated in the offer, thus creating a binding contract.

Mailbox Rule

A legal principle stating that an offer is considered accepted once the acceptance is dispatched (e.g., mailed), not when it is received by the offeror.

Authorized Mode

The officially approved method or manner of conducting actions, operations, or procedures, often specified in legal, regulatory, or organizational guidelines.

Ambiguous Offer

refers to a proposal in contract law that lacks clarity and can be interpreted in more than one way, potentially leading to misunderstandings or disputes.