The following statements relate to budgeting. Choose all of the statements that are true: Budgets act as early warning systems and enable people to take action in advance. A manager wishing to improve staff morale should use an authoritarian approach to budgeting. Budgets play a key role in business planning. If an entity had no variances in their income statement for several periods, there is no need for them to continue preparing budgets. If income budgets are continually being met, it could be an indication that budgetary slack is present