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Question(s) / Instruction(s):

A principal difference between operational budgeting and capital budgeting is the time frame of the budget. Because of this difference, capital budgeting:

a)            is an activity that involves only the financial staff.

b)            is done on a rolling budget period basis.

c)            focuses on the present value of cash flows from investments.

d)            is concerned with a long-term net income forecast.

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