With one exception, the following objectives are accomplished by budgeting. Which of these statements is NOT true about budgeting objectives?

Locks in company spending for the period.

Formalizes management's plans in quantitative terms.

Shows management's operating plans for the coming period.

Forces all levels of management to think ahead, anticipate results, and take action to remedy poor results.

Relevant non$-$financial information examples include:

Vendor relations, employee benefits, brand loyalty.

Vendor relations, workplace diversity, labor cost.

Vendor relations, employee job satisfaction, brand loyalty.

Market share, workplace diversity, brand loyalty.

A candy company needs to purchase a new piece of manufacturing equipment. Vendor $1$ has equipment that is priced at $$150,000,$ has a capacity of $100$ tons per day, and uses $$1,000$ in power consumption per day. Vendor $2$ has equipment priced at $$150,000,$ has a capacity of $125$ tons per day, and uses $$1,200$ in power consumption per day. How should an accountant for the business factor the equipment price into the purchase decision?

Divide the capacity by the equipment price.

Subtract the power consumption from the equipment price.

Multiply the capacity by the equipment price.

Ignore the equipment prices.

Screening, analysis, and implementation are the specific steps involved in this business process.

Capital budgeting process

Balance sheet preparation

Operational budgeting process

CPA approval process