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Which of the following statements relating to budgeting is NOT true? A budget is a formal document that quantifies a companys plans for achieving its
Which of the following statements relating to budgeting is NOT true?
A budget is a formal document that quantifies a companys plans for achieving its goals.
Budgets are useful in the control process because they provide a basis for evaluating performance.
A bottom-up approach to budgeting involves substantial input from lower level managers.
Most managers believe that budgeting is more successful when a top-down approach rather than a bottom-up approach is used.
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