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Question 1 : One major criticism of budgeting is that it is used as a cost reduction tool rather than a cost control tool. The

Question 1 : "One major criticism of budgeting is that it is used as a cost reduction tool rather than a cost control tool. The objective of the budget is to control costs at an efficient level of operation." Is this statement true or false? Please provide support/ reasoning with your response.

Question 2: What are the major purposes of budgeting for a company?

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