TOP-DOWN BUDGETING Definition

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TOP-DOWN BUDGETING is where budgets are created by starting from the highest level working towards the bottom using parametric relationships. A monetary value is placed on an individual unit (product, service, materials, and labor hour). An estimate of the number of units required is then converted to currency by multiplying the quantity of units by the unit price.

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DAY TRADE is the purchase and sale or the short sale and cover of the same security in a margin account on the same day.

MANUFACTURING STATEMENT see MANUFACTURING ACCOUNT.

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