-45 4. Beta Ltd are considering budgeting as a performance management system. Although its advantages have been emphasized at meetings. it should be pointed out that budgeting has been criticized from a number of directions with some even arguing for managing without budgets. Which of the following are criticisms that should be considered? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer.) Budgeting is too time consuming Budgeting tends to be bottom-up and encourages gaming and opportunism 2 Budgeting is mechanistic with rigid, formalized and tightly coupled systers Budget-led organizations may be slow to recognize changes in the market and also slow to react to changes even when they have been noticed 2 Budgeting tends to focus on cost control rather than value creation 2 Budgeting makes organizations flexible and able to respond to uncertainty