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Please answer the following questions. Thanks! Briefly describe your understanding of how and why managers use budgets. a. b. What types of budget approaches are

Please answer the following questions. Thanks!

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Briefly describe your understanding of how and why managers use budgets. a. b. What types of budget approaches are typically used in for-profit companies as opposed to non-profit organizations? Explain at least two different budget methods c. Describe a minimum of two ways in which a personal budget is similar to a business budget. Elaborate your response

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