Question: which of the following better explains budget a a budget...

Which of the following better explains ‘Budget’?

	a.	A budget serves as a vehicle for activities and responsibilities of senior management levels in the organization.
	b.	A budget serves as a vehicle for delegating activities and responsibilities to senior management levels in the organization.
	c.	A budget serves as a vehicle for delegating activities and responsibilities to lower management levels in the organization.
	d.	A budget serves as a vehicle for monitoring activities and responsibilities of lower management levels in the organization.

Which of the following better explains ‘Auction Reverse’?

	a.	An e-auction which is used by buyers to limit competitive bidding among a large number of prequalified suppliers based on a starting price that is lowered during the auction.
	b.	An e-auction which is used by buyers to enforce competitive bidding among a large number of prequalified suppliers based on a starting price that is lowered during the auction.
	c.	An e-auction which is used by buyers to enforce competitive bidding among a limited number of prequalified suppliers based on a starting price that is lowered during the auction
	d.	An e-auction which is used by suppliers to minimise bidding among a number of prospective buyers based on a starting price that is increased during the auction.