<u>Full question:</u>
Angela is part of the senior management of Fifian Inc., an event management company. She along with other members of the senior management plans the annual budget of the company. Angela, however, is not required to take inputs from or involve the middle and supervisory managers of the company in this planning process. In the given scenario, Fifian Inc. most likely uses _____.
A. top-down budgeting
B. incremental budgeting
C. bottom-up budgeting
D. zero-based budgeting
<u>Answer:</u>
In the given scenario, Fifian Inc. most likely uses top-down budgeting
<u>Explanation:</u>
Top-down budgeting relates to a budgeting system where senior management equips a high-level estimate for the company. Through top-down budgeting, the company’s administration views prior practices and contemporary market circumstances.
Customarily, department directors and lower-level staff do not partake in the meetings but may put forward proposals for consideration. Such a kind of budget concentrates on the overall germination of the organization. Since managers are not a member of the budget-making method, they may not perceive much urge to assure their success.
Answer:
The income the firm must provide to resource suppliers to attract resources from alternative uses.
Explanation:
Economic cost refers to the cost that is attached with the goods and it is attach by one of the individual. It takes into account various factors such as time, money and other costs.
Economic cost is differ from the accounting cost because accounting cost only includes explicit costs but economic cost includes both explicit costs and implicit costs (opportunity costs).
A Conflict of Interest (COI) management plan aims to prevent
an employee from being subject to scrutiny due to issues of conflict of
interest. If something is revealed on an
employee’s conflict of interest disclosure that might be perceived as an actual
or potential conflict, then a plan is drawn.
This plan describes the nature of the conflict and outlines how the
management will prevent a conflict of interest from escalating.
