Select from the following to answer questions 1 and 2. a. zero-based b. formula c. incremental d. accrual e. capital f. flexible 1. If your boss, the town’s chief financial officer (CFO), told you...

Select from the following to answer questions 1 and 2.

a. zero-based

b. formula

c. incremental

d. accrual

e. capital

f. flexible

1. If your boss, the town’s chief financial officer (CFO), told you that the town expected tax revenues to be 22 percent lower than last year and asked you to prepare decision packages to justify all the town’s discretionary programs, you would use a(n) ______ budget.

2. To test the sensitivity of your operating expenses to changes in the number of campers coming to Camp Summertime Fun this summer, you would use a(n) ______ budget.