QUESTION 1 3 Which of the following statements about the budgeting process are True? (Select Best Answer from A-G) 1. Incremental budgeting has the company begin with the budget from the previous period II. Zero-based budgeting starts with zero and requires that every single line item be justified before being included in the budget. III. A benefit of participative budgeting is that lower-level managers are generally more motivated to meet budgets they helped create IV. Once the budget is created for the year, a company using a rolling budget will not change or alter the budget in any way. v. One positive of incremental budgeting is that lower-level managers may have incentive to pad the budget, leading to less accurate budgets. A. I, II and III are true statements OB. I, II, III and V are true statements C.I and II are true statements OD. I, II and IV are true statements E. I, II, III, IV and IV are true statements OF. I, III and IV are true statements G. II, III and IV are true statements