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ZERO-BASE BUDGET: A method of budgeting expenditures in which each expenditure is justified on its overall merits rather than being based on the budget for the previous year. A zero-base budget is most often proposed (but seldom implemented) for governments. Governments generally establish budget expenditures based on expenditures for the previous year. If, for example, budget expenditures last year were $100 billion, the requested budget for this year might be set at $110 billion. The existing $100 billion is a "given" and only the extra $10 billion is justified. With a zero-base budget, the entire $110 billion is justified.
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PURPLE SMARPHIN [What's This?]
Today, you are likely to spend a great deal of time at a crowded estate auction wanting to buy either a New York Yankees baseball cap or several magazines on home repairs. Be on the lookout for letters from the Internal Revenue Service. Your Complete Scope
This isn't me! What am I?
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North Carolina supplied all the domestic gold coined for currency by the U.S. Mint in Philadelphia until 1828.
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"An idea is never given to you without you being given the power to make it reality." -- Richard Bach, Author
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SPE Subgame Perfect Equilibrium
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