Budgeting requires eliminating redundant expenditure that no longer serves any clearly defined purpose.

Related MCQs

• Zero-based budgeting is an approach to budgeting that begins from the principle that………………. or activities Should be factored into the plans for the coming budget period.
• The second approach in the application of Zero-based Budgeting (ZBB) is to identify and remove duplication or expenditure.
• The key benefit is that serves to concentrate attention on the……………
• The bonds issued by the DFIs were no longer eligible as…………….assets for banks.
• A system of zero-based budgeting was first introduced formally in the United States Department of Agriculture in preparing its budget.
• Zero-based budgeting was introduced for the first time in a government system by …………………..
• A main factor contributing to the failure of zero-based budgeting has been due to too much of……………..involved in the procedure.
• Zero-based budgeting first came out in …………..
• The basic process of zero-based budgeting is to justify budget requests for every , regardless of prior period budgets.
• Zero-based budgeting addresses such problems that can take place with ……………. rolling budgets.