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Which of the following statements about budgeting is not correct?
In zero-based budgeting, the prior budget is analyzed to make sweeping changes.
Almost all organizations prepare annual budgets and many use quarterly budgets.
Bottom-up budgets have more departmental involvement than top down budgets.
One of the most difficult budgeting areas is volume forecasting.
In the conventional budget, the prior budget is adopted with relatively minor changes.
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