the year, Rls 6. The budgeted income statement indicates the expected profitability of operations for the next year and provides the basis for eval uating company performancn e) False 9. Long-range planning differs from budgeting in the tme pariod involved. emphasis, and the amount of detail presented. False 10. Budgeting is not used in not-for-profit organizations because it is not necessary for these organizations to engage in proft planning True Multiple Cholce (Circle the correct answer)