In a top-down approach to budgeting, what occurs? a. Each budget amount projected by upper-level managers is approved or disapproved by lower-level managers. b. Lower-level managers are the primary source of information used in setting the budget. C. The upper-level managers impose a budget without soliciting input from department managers. d. The production budget is developed before the sales budget. 16:56 +91 94640 73542 ~preet Sunk costs are incremental costs because they increase or decrease with the choice of one alternative over another. a. FALSE b. TRUE 16:59 Avoidable costs are always relevant. a. TRUE b. FALSE 17:04 The budget committee consists of a. a company's stockholders. b. senior managers, including the CEO and CFO. C. all employees interested in providing input to the budgeting process. d. representatives from the stockholders and suppliers. 17:04