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Part c) Budgeting has been criticized as A Cumbersome process which occupies considerable management time Concentrating unduly on short-term financial controls Having undesirable effects on

Part c) Budgeting has been criticized as

A Cumbersome process which occupies considerable management time

Concentrating unduly on short-term financial controls

Having undesirable effects on the motivation of managers

Emphasizing formal organizational structure

Explain the above criticisms and discuss the changes required in response to the criticisms so as to improve the budgeting process.

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