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Why do companies create budgets, what is the importance of a budget, and how do budgets help businesses? What is a Master Budget? Please describe

Why do companies create budgets, what is the importance of a budget, and how do budgets help businesses?

What is a Master Budget? Please describe its contents and talk about the relationships between those contents.

Do you believe in household budgets, do you think budgets are helpful to stay on track?

Do you ever compare the amount of money you make versus how much money you spend?

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