What is zero-based budgeting?
- Allocating funds based on historical spending patterns
- Allocating funds based on projected future needs
- Budgeting method where each expense must be justified for each new period
- Setting budgets without considering previous expenditures
Zero-based budgeting is a budgeting method where each expense must be justified for each new period, unlike traditional budgeting methods where previous expenditures serve as a baseline. This approach requires departments to justify all expenses, starting from a "zero base," ensuring resources are allocated efficiently.
Loading...
Related Quiz
- How does effective delegation contribute to team productivity?
- A _________ is a data structure that consists of a collection of nodes where each node points to the next node in the sequence.
- What is the significance of active listening in conflict resolution?
- What are some common causes of conflicts in a workplace environment?
- _________ is an essential skill for leaders to encourage creativity and new ideas.