You recently attended a workshop on budgeting and overheard the following comments as you walked to the refreshment table:

E 1. You recently attended a workshop on budgeting and overheard the followingcomments as you walked to the refreshment table:1. “Budgets are the same regardless of the size of an organization or management’srole in the budgeting process.”2. “Budgets can include financial or nonfinancial data. In our organization, weplan the number of hours to be worked and the number of customer contactswe want our sales people to make.”3. “All budgets are complicated. You have to be an expert to prepare one.”4. “Budgets don’t need to be highly accurate. No one in our company stayswithin a budget anyway.”Do you agree or disagree with each comment? Explain your answers.

Answer sheet 1. “Budgets are the same regardless of the size of an organization or management’srole in the budgeting process.”Answer- I AgreeExplanation Budgeting is a process which is...