Budgeting. What is a budget and what are its benefits? Explain what the master budget is and discuss the various budgets that comprise the master budget. Explain flexible budgets and budget variances. Explain capital budgeting and the various methods used to evaluate projects and expenditures, including payback method, net present value method, and internal rate of return method. Provide a discussion of all potential scenarios and the relevance to the accounting profession.
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MUST be at least 8 Pages
Must begin with an introductory paragraph that has a thesis statement
Must end with a conclusion that reaffirms the thesis
At least 4 references (all work must be cited)
Must be APA style layout (Including a title and a separate reference page)