Information regarding many approaches to budgeting can be found on the Web. The fol- lowing activity investigates the merits of "zero-based" budgeting, as discussed by Michael LaFaive, Director of Financial Policy of the Mackinac Center for Public Policy.
Address: www.wiley.com/college/weygandt
Instructions
Read the article at the website and answer the following questions.
(a) How does zero-based budgeting differ from standard budgeting procedures?
(b) What are some potential advantages of zero-based budgeting?
(c) What are some potential disadvantages of zero-based budgeting?
(d) How often do departments in Oklahoma undergo zero-based budgeting?