Indicate whether each of the following statements is true or false. 1. Short-term plans are more specific and detailed than long-term plans. 2. Short-term planning focuses on the operations of a business for the next two to three years. 3. A decision to lease equipment would be part of a company's capital budgeting process. 4. The master budget focuses on long-term objectives and goals. 5. The master budget normally covers a period of one . 6. A flexible budget can be viewed as an extension of a company's master budget. 7. The master budget is a static budget because it is prepared for a single level of volume. 8. tandards are established for a company's costs but not for the selling prices of its goods and services. 9. If rent is budgeted at $34,000 for 10,000 units, rent would also be budgeted at $34,000 for 11,000 units. 10. Flexible and static budgets use the same per-unit standard amounts for sales and variable costs. 11. Decentralization of an organization means that the organization has operations in many different places. 12. Decentralization allows lower-level managers to concentrate on strategic decisions rather than routine operating decisions. 13. Decentralization allows local managers to make more decisions. 14. Decentralization means delegating authority to managers and holding them responsible for their performance. 15. Increased decentralization within an organization generally leads to an increase in the level of employee and manager motivation.