Annual Budget

Uses the knowledge of all staff to build a fair budget

The cheapest method of producing a budget

Reduces the level of budget negotiation between staff

Prevents slack being built into budgets

That the amount authorized to be expended for a particular service for the current financial year is insufficient or that a need has arisen for expenditure upon some new service not included in the Annual Budget Statement for that year; or

That any money has been spent on any service during a financial year in excess of the amount granted for that service for that year

Both A and B

None of these

Increasing employment

Increasing economic growth

Increasing government spending

Increasing the level of exports

Revenue deficit plus the net borrowing of the government

Budgetary deficit plus the net borrowing of the government

Capital deficit plus revenue deficit

Primary deficit minus capital deficit

Increased employment

Increased unemployment allowance

More progressive taxes

More regressive taxes

Income tax

National insurance

VAT

Interest rates

707 units

433 units

500 units

1,000 units

Surplus cash can be put to more profitable uses if expected to occur

Time is available to investigate the possible future sources of finance

Overdrafts can be negotiated in advance of when they are needed

Debtors can be paid more quickly

Performance budgeting

Deficit budgeting

Zero based budgeting

Fresh budgeting

Sales demand.

Labour shortage.

Both sales and labour.

None of these