Indicate whether each of the following statements is true or false.
1. Short-term plans are more specific and detailed than long-term plans.
2. Short-term planning focuses on the operations of a business for the next two to three years.
3. A decision to lease equipment would be part of a company's capital budgeting process.
4. The master budget focuses on long-term objectives and goals.
5. The master budget normally covers a period of one quarter.

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The Answer of Indicate whether each of the following statements is true or false.
1. Short-term plans are more specific and detailed than long-term plans.
2. Short-term planning focuses on the operations of a business for the next two to three years.
3. A decision to lease equipment would be part of a company's capital budgeting process.
4. The master budget focuses on long-term objectives and goals.
5. The master budget normally covers a period of one quarter.

Indicate Whether Each of the Following Statements Is True or False