10) Budget preparation is best determined in a top-down managerial approach. A) True B) False 11) The task of preparing a budget should be the sole task of the most important department in an organization. A) True B) False 12) The responsibility for coordinating the preparation of a master budget should be assigned to the Chief Executive Officer. A) True B) False 13) Larger, more complex organizations usually require a longer time to prepare their budgets than smaller organizations because of the considerable effort to coordinate the different units within the business. A) True B) False 14) A rolling budget is a specific budget application relevant only to a merchandising company A) True B) False