Which of the following statements is true about the budgeting process?

	A.	Budgets are primarily used for planning, but not for control.
	B.	Budgets are created prior to the start of an accounting period by management, front line employees are not asked to provide input.
	C.	Budgeting is perhaps the most widely used management tool employed by private companies, but are generally not used much by governments.
	D.	Budgets are required for external accounting reporting and must follow IFRS accounting formatting standards.
	E.	New budgets can be based on a companys prior years figures, or be started from zero.