Fill in the following blanks:

1. If your boss told you the town expected tax revenues to be 22% lower than last year and asks you to prepare decision packages to justify all discretionary programs, you would use a _____ budget.

2. To test the sensitivity of your operating expenses to changes in the number of campers coming to Camp Summertime, you would use a _____ budget.

3. ____ budgets focus on proposed investments in valuable, long-lived resources.

4. Operating budgets are usually done on a(n) ____ basis.

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