Which of the following statements about cash budgets is false?
1. Cash budgets are forecasts of cash receipts and disbursements.
2. Cash budgets show the actual inflows and outflows of cash for a given period.
3. Cash budgets should be prepared for several months, if not years, in advance.
4. Cash budgets are forecasts of cash receipts and disbursements and should be prepared for several months, if not years, in advance.
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