ECONOMICS
MONEY MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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is a popular method for visualizing and maintaining a budget. The key idea is to store the cash to meet separate categories of household expenses in physically separate envelopes.
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is a method of budgeting in which all expenses must be justified for each new period with expected income.
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is creating or controlling a situation by causing something to happen rather than responding to after the fact.
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is an unplanned decision to buy a product or service, made just before a purchase.
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Detailed explanation-1: -What is zero-based budgeting (ZBB)? Zero-based budgeting (ZBB) is a budgeting technique in which all expenses must be justified for a new period or year starting from zero, versus starting with the previous budget and adjusting it as needed.
Detailed explanation-2: -Zero-based budgeting (ZBB) is a method of budgeting in which all expenses must be justified for each new period. The process of zero-based budgeting starts from a “zero base, ” and every function within an organization is analyzed for its needs and costs.
Detailed explanation-3: -What is zero-based budgeting? Zero-based budgeting is a method that has you allocate all of your money to expenses for needs and wants, as well as short-and long-term savings and debt payments. The goal is that your income minus your expenditures equals zero by the end of the month.
Detailed explanation-4: -ZBB is a highly effective business-planning tool to help a company identify and eliminate unnecessary costs, keep control of your spending, and focus on high-profit initiatives. Budgeting, including ZBB, is the tactical implementation of a company’s strategic plan.
Detailed explanation-5: -Zero-based budgeting in India In India, the ZBB was adopted by the department of science and technology in 1983. In 1986, the Indian government implemented ZBB as a system for determining Expenditure Budget.