Answer:
B. The zero based budget requires managers to re-justify every planned expenditure every year.
Explanation:
A zero based budget is one that does not take into account historical data when it is considering the present year budget. Each departmental requirement is re-evaluated and a new amount is assigned as budget for the year.
However conventional budgets carryover the previous year's expenses as a base data point. This results in similar budgeting across years.
So the main difference between the two is that zero based budget requires managers to re-justify every planned expenditure every year.
Increase in price leads to a decrease in supply.
Answer:
(b) Common objectives
Explanation:
People and departments in an organization perform different functions, but all focus on achieving its objectives. An organization's top management sets the goals and targets for a particular period. It then identifies specific actions that need to be accomplished to achieve the set goals.
The identified actions are distributed to various departments for implementation. Each department will break down its activities into small tasks and assign them to individual workers. Every employee will be working to achieve their set objectives. If all workers achieve their targets, the departments will meet their objectives, and so is the organization's goals.