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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 set 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.