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In theory, all firms (and individuals) should budget for operations. In practice, however, many companies (and people) do not use a formal budgeting process as

In theory, all firms (and individuals) should budget for operations. In practice, however, many companies (and people) do not use a formal budgeting process as part of their financial planning. Describe the budgeting process used at your current or previous place of employment, or in your personal life.

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