Below are various statements about different budgeting techniques. Which is false? Budget ratcheting tightens targets when performance fails to meet the target by a predetermined percentage Budget...

Extracted text: Below are various statements about different budgeting techniques. Which is false? Budget ratcheting tightens targets when performance fails to meet the target by a predetermined percentage Budget lapsing prevents managers from hoarding funds Master(static) budgets are prepared for a single level of activity Budget lapsing encourages managers to spend money regardless of cost or value None of the above