CONTINUOUS BUDGET Definition

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CONTINUOUS BUDGET is a budget that rolls ahead each time period (e.g., month) without regard to the fiscal year, i.e., a twelve-month or other periodic forecast is always available; also called a ROLL FORWARD BUDGET.

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TEST COUNT, in inventory audits, is where a test count is inventory counted by the auditors to check the client's count.

NON-DISCRETIONARY means it is mandatory, not up to the individual or company.

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