Which of the following statements is true? I. Budgets are used for the distinct purposes of planning and profit II. Control involves developing goals and preparing various budgets to achieve those goals. III. A continuous or perpetual budget is a 12-month budget that rolls forward one month (or quarter) as the current month (or quarter) is compl sos Multiple Choice Only statement is true, Only statement illis true All of the statements are true O None of the statements are true