Question: What statement most accurately describes zero based budgeting? - Managers of each department are required to justify all their budgeted expenditures - The Income Statement

What statement most accurately describes zero based budgeting?

- Managers of each department are required to justify all their budgeted expenditures

- The Income Statement Budget where Net Income is zero

- Start with last year's budget and make adjustments for new sales expectations and projected costs.

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