TRUE OR FALSE

T F Employees view budgeting more positively when goals are established for them by senior management.

T F A budget can be an effective means of communicating managements plans to the owners of a business.

T F Budget preparation is best determined in a top-down managerial approach.

T F The financial budgets of a business include the cash budget, the budgeted income statement, and the budgeted balance sheet.

T F The sales budget is derived from the production budget.