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

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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.

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