Which of the Following Statements About Budgeting Is Not True

Which of the following statements about budgeting is not true?

A) Budgeting is designed to be an aid to planning and control.
B) Budgets create standards for performance evaluation.
C) Budgets help coordinate the activities of the entire organization.
D) Budgeting forces managers to think ahead and to formalize long-range objectives.
E) Budgeting eliminates the need for day-to-day monitoring of operations.