True or False: A production budget isnotneeded for a service organization. True or False: A master budget consists of (a) organizational goals, (b) strategic long-range profit plan, and (c) tactical short-range profit plan. True or False: Individual managers’ beliefs and expectations are incorporated into the budgeting process using grass roots budgeting procedures. True or False: The sales budget drives the rest of the budgeting process for both manufacturers and merchandisers.
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