Budgets are developed in RKH Corporation by soliciting input from responsible employees once a year. This technique is best described as:
A) perpetual budgeting.
B) participative budgeting.
C) responsibility accounting.
D) committee budgeting.

Question

Quizplus · Accepted Answer

The described budgeting technique involves soliciting input from responsible employees, indicating that it is participative budgeting. Perpetual budgeting involves continuously adjusting a budget throughout the year, responsibility accounting involves assigning accountability to specific individuals or departments for budget performance, and committee budgeting involves a group of individuals working together to create a budget.

Budgets Are Developed in RKH Corporation by Soliciting Input from Responsible