The objectives of budgeting are (1) establishing specific goals for future operations, (2) executing plans to achieve the goals, and (3) periodically comparing actual results with these goals.

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This statement is true. The primary objectives of budgeting are to set specific goals for future operations, develop plans to achieve those goals, and regularly compare actual performance with budgeted goals to identify areas for improvement.

The Objectives of Budgeting Are (1) Establishing Specific Goals for Future