Indicate whether the following statements are true or false

Indicate whether the following statements are true or false 1An income statement is prepared daily to ensure income goals are met 2The use of budgets in controlling operations is known as budgetary control 3A sales budget report determines whether sales objectives are being met 4The primary recipient of the labour budget report is the sales manager 5One of the steps in the budgetary activities is to analyze the differences between actual and budget 6Budget reports are used to monitor the progres