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Respond that the following statements are TRUE or FALSE: 1) After comparing budgets with actual results, corrective action will be taken based on the differences.

Respond that the following statements are TRUE or FALSE:

1) After comparing budgets with actual results, corrective action will be taken based on the differences.

2) A budget represents the plans that a company has in place to achieve its goals.

3) All organizations use one standardized budgeting process.

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