Q. Who had given the concept of zero based budgeting?
Solution:
- Zero-based budgeting (ZBB) is a method of budgeting in which all expenses must be justified for each new period.
- The process of zero-based budgeting starts from a “zero base,” and every function within an organization is analyzed for its needs and costs.
- Zero-based budgeting (ZBB) is a budgeting method where all expenses must be justified and approved each new budget period.
- It is developed by Peter Pyhrr in the 1970s, the organization’s needs and costs are analyzed by starting from a “zero base” (i.e., no funding allocation) at the beginning of every budget period, regardless of what was previously budgeted.
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