________ is the process of assigning managerial authority and responsibility to lower-level managers and employees.

Budget-planning approached include zero-based budgeting (ZBB), the Planning Program Budgeting System, and ___________ budgeting

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

A federal law has a threshold of 15 or more employees. But the state law says you have to apply the federal law if you have 5 employees. Your company is in that state and has 7 employees. Does your company have to apply the federal law?

What will be an ideal response?