Which of the following best describes a top-down budget?
A.
A budget which has been set by scaling down individual expenditure items until the total budgeted expenditure can be met from available resources
B.
A budget which is set by delegating authority from top management, allowing budget holders to participate in setting their own budget
C.
A budget which is setting without permitting the ultimate budget holder to participate in the budgeting process
D.
A budget which is set within the framework of strategic plans determined by top management