Following are approaches to budgeting, with a partial definition of those items in scrambled order.

a. Perpetual budgeting

b. Incremental budgeting

c. Zero-based budgeting

d. Top-down budgeting

e. Bottom-up budgeting

Required: For each partial definition, identify the budgeting approach to which it refers.

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1. Lower-level managers and employees initially prepare the budget. 2. Each item on the budget must be justified each year. 3. The budget is updated every month.