Solved

Match the Following Terms with the Descriptions Below

Question 64

Matching

Match the following terms with the descriptions below.

Premises:
A standard that can be achieved only if operating conditions are almost perfect.
A standard that can be achieved under practical operating conditions.
Budgeting using last year's budget as a starting point for this year's budget.
A difference between reported budget numbers and realistic budget numbers
A budgeting strategy in which the company considers each budget period a fresh start.
A budget set by upper-level management a top down approach.
The process of expressing the company's goals and objective in quantitative terms.
Individual who are affected by the budget get input into the process a bottom -up approach.
Responses:
Normal standard
Mandated budgeting
Participatory budgeting
Incremental budgeting
Budgetary Slack
Zero-based budgeting
Budgeting
Ideal Standard

Correct Answer:

A standard that can be achieved only if operating conditions are almost perfect.
A standard that can be achieved under practical operating conditions.
Budgeting using last year's budget as a starting point for this year's budget.
A difference between reported budget numbers and realistic budget numbers
A budgeting strategy in which the company considers each budget period a fresh start.
A budget set by upper-level management a top down approach.
The process of expressing the company's goals and objective in quantitative terms.
Individual who are affected by the budget get input into the process a bottom -up approach.
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