Mickle Company has the following information:
Purchases are paid for in the following manner:
20 percent in the month of purchase
50 percent in the month after purchase
30 percent two months after purchase
-When budgets are formulated with the active participation of all affected employees, the process is called

Question

Mickle Company has the following information:
  Purchases are paid for in the following manner:
20 percent in the month of purchase
50 percent in the month after purchase
30 percent two months after purchase
-When budgets are formulated with the active participation of all affected employees, the process is called

Quizplus · Accepted Answer

The process described in the question is participative budgeting, which involves the participation of all affected employees in the creation of budgets. Financial budgeting and mathematical budgeting are not relevant terms in this context, and there is no reference to relative budgeting in the question.

Mickle Company Has the Following Information