Which of the following is correct for the budgeting process?

(1) Budgeting provides resource information for decision making

(2) Departmental coordination is not part of the budgeting process

(3) Budgeting provides a standard (or benchmark) for performance evaluation

(4) Considerations for limited resources are ignored in the budgeting process

1. Only (1), (2) and (3)

2. Only (1), (3) and (4)

3. (1), (2), (3) and (4)

4. Only (3)

5. Only (4)

6. Only (1) and (3)