Which of the Following Statements About Budgeting Is False

Multiple Choice

Which of the following statements about budgeting is false?

A) The master budget should only be prepared by top management.
B) Budgeting forces managers to think ahead and formalize future objectives.
C) Budgets help coordinate the activities of the entire organization.
D) Budgeting is an aid to planning and control.
E) Budgets create standards for performance evaluation.