1) After comparing budgets to actual results, feedback allows managers to determine what, if any, corrective action should be taken. 2) Budgeting requires managers to develop general business goals and a budget for specific actions to achieve the goals. 3) Budgeting reduces coordination and communication at different levels of an organization. 4) One goal of the budgeting process is to communicate a single, unified, comprehensive plan for the business. 5) All organizations use a standardized budgeting process. 6), Budget slack occurs when managers intentionally overestimate expected revenues or underestimate expected expenses. 7) Managers do not need to have employees involved in budgeting because the budget is a management tool. 8) A strategic budget will be as detailed as an operating budget. 9) An operating budget is a short-term financial plan that coordinates the activities necessary to achieve short-term goals. 10) The level of forecast sales has little effect on other items in the master budqet. 1) After comparing budgets to actual results, feedback allows managers to determine what, if any, corrective action should be taken. 2) Budgeting requires managers to develop general business goals and a budget for specific actions to achieve the goals. 3) Budgeting reduces coordination and communication at different levels of an organization. 4) One goal of the budgeting process is to communicate a single, unified, comprehensive plan for the business. 5) All organizations use a standardized budgeting process. 6), Budget slack occurs when managers intentionally overestimate expected revenues or underestimate expected expenses. 7) Managers do not need to have employees involved in budgeting because the budget is a management tool. 8) A strategic budget will be as detailed as an operating budget. 9) An operating budget is a short-term financial plan that coordinates the activities necessary to achieve short-term goals. 10) The level of forecast sales has little effect on other items in the master budqet