Which of the following statements about budgeting is NOT true?
A) The operating budget should be prepared by top management, rather than mid-management personnel, because they have the overall objectives of the company in mind.
B) Budgeting is an aid to planning and control.
C) Budgets help to coordinate the activities of the entire organization.
D) Budgets promote communication and coordination between departments.
Correct Answer:
Verified
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