Which of the Following Statements Are Correct,with Regards to Budgeting

Multiple Choice

Which of the following statements are correct,with regards to budgeting?
(i) The budget must be set centrally
(ii) Budgets should never be exceeded
(iii) There are financial rules governing the layout and calculations of a budget,eg once set,a budget cannot be altered

A) (ii) only
B) (ii) and (iii)
C) They are all false
D) They are all true