Question

The process of developing budget estimates by requiring all levels of management to estimate sales, production, and other operating data as though operations were being initiated for the first time is referred to as:

Answer 1

Answer:

Zero based budgeting

Explanation:

In the zero based budgeting, the budget should be prepared from the starting i.e. based on the available budgeted income. Also it is not same as traditionla budget as no previous years statements should be considered

Also new prediction could be taken in consideration due to which it is costly and time consuming process

Therefore for initiated the first time, the zero based budgeting is used