A variant of fiscal-year budgeting whereby a 12-month projection into the future is maintained at all times is termed _____ budgeting.

A) flexible
B) continuous
C) zero-based
D) master

Continuous Budgeting

A process of continuously updating the budget by adding a new period as the current period is completed, ensuring the budget always extends a fixed period into the future.

Fiscal-Year

A one-year period used for financial reporting and budgeting that does not necessarily coincide with the calendar year; it can start on any day of the year.