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Distinguish between operating and capital budgeting. Include a summary of the prevalence of capital budgeting across different levels of Canadian government (federal, provincial, and municipal)

Distinguish between operating and capital budgeting. Include a summary of the prevalence of capital budgeting across different levels of Canadian government (federal, provincial, and municipal) in your answer. Why might a jurisdiction practice separate operating and capital budgets? Why is debt finance potentially appropriate for capital budgeting but not for operating budgets?

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