LESSON OBJECTIVE
Assessment Criteria AC 3.2 Select appropriate budgeting methods for the organisation and its needs Below are questions pertaining to lesson 9. Please ensure to answer each question correctly. 1. What is the Zero Based Budgeting concept? 2. Why would those responsible for the budget-setting process need to have real authority? 3. There are two types of approaches to budgeting – Bottom-up and Top-down. What are the advantages and disadvantages of each type of budgeting approach?
3 Comments
Dalene cushnie
11/13/2016 04:56:05 pm
1) Zero Based Budgeting (ZBB) is a method of budgeting which requires you to justify all planned expenditures for each of your new business period.
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Taisha Lewis
11/20/2016 02:24:08 pm
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Christopher Cameron
11/20/2016 08:41:08 pm
1) According to Investopedia (2016), "Zero-based budgeting (ZBB) is a method of budgeting in which all expenses must be justified for each new period."
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