What Is Generally Required for Fundamental Changes in the Corporation

question 27

Multiple Choice

What is generally required for fundamental changes in the corporation?

• A) Novation
• B) Referendum
• C) Board initiative
• D) Deal protection devices

---

Definitions:

Zero-Based Budgeting

A budgeting method where all expenses for each new period are justified, starting from a "zero base," regardless of whether each budget is higher or lower than the previous one.

Budgeted Expenditures

Estimated spending for a given period as planned in a budget, often categorized by departments or projects.

Financial Components

The various elements that make up the financial structure of a company, including assets, liabilities, revenues, and expenses.

Collection Pattern

The typical manner or time frame in which a business receives payments from its customers for goods or services sold.