Megan Espanoza, manager of the Wells Division of Mars, Inc., a large credit card company, recently received a memorandum describing the company's new budgeting process for the coming year. The new process requires Megan and the other division managers to submit a budget proposal outlining their operating plans and financial requirements. Management would then study the proposals and determine the budget for each division. Which of the following statements is correct regarding the benefits of this type of budgeting?

1.is quicker than the participative budgeting process

2. all of the above

3. Might increase employee motivation to achieve the budget

4. organizations can gather information from subordinate managers about their local operations