1. is generally higher when an individual participates in setting his or her own goals than when the goals are imposed from above 2. If a manager is not able to meet the budget and it has been the manager can always say that the budget was unreasonable or unrealistic to start with and therefore was impossible to meet. 3. A is a detailed quantitative plan for acquiring and using financial and other resources over a specified time period. 4. involves developing objectives and preparing various budgets to achieve those objectives 5. The budgeting process can uncover potential before they occur. 6. involves the steps taken by management to increase the likelihood that the goals and targets set down in the budgeting stage are attained. 7 Budgets define goals and objectives that can serve as for evaluating subsequent performance 8 In a maneger is held accountable for those items, and only those items, over which he or she has significant control 9. A is one that is prepared with the full cooperation and participation of managers at all levels of the organization. 10. A is usually responsible for overall policy matters relating to the budget program and for coordinating the preparation of the budget itself