A basket purchase occurs when a company agrees to buy inventory weeks or months in advance.

You must pay income tax on ____________ bonds

Fill in the blank(s) with the appropriate word(s).

An advantage of top-down budgeting is:

A) That top management estimates of project costs are often quite accurate, at least in aggregate. B) An elimination of the friction between top and lower levels in the competition for budget money. C) That projects are no longer a zero-sum game among lower level managers. D) That top management budgets, by definition, cannot experience overruns.