There are two broad approaches to budget preparation: top-down and bottom-up.

Name: There are two broad approaches to budget preparation: top-down and bottom-up.
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Quizplus · Accepted Answer

This statement is true. The top-down approach involves setting an overall budget limit and then allocating resources to individual departments or units. The bottom-up approach, on the other hand, involves developing budgets at the departmental or unit level and then combining them to create an overall budget.

There Are Two Broad Approaches to Budget Preparation: Top-Down and Bottom-Up