Evaluate whether each statement is true or false.

1. Managers should be held responsible for both costs that they have control over and costs they do not have control over . [ Select ] ["True", "False"]
2. A benefit of budgeting is communicating management plans throughout the organization. [ Select ] ["True", "False"]
3. To assess company performance, managers should compare the actual results to the planning budget. [ Select ] ["False", "True"]
4. Fixed costs typically show favorable variances when comparing the planning budget to the flexible budget when the actual number of units sold is less than planned. [ Select ] ["False", "True"]
5. Traditional IRAs are tax-deductible and grow tax-free. [ Select ] ["True", "False"]