Your co-worker wants to know more about the ins and outs of budgeting. In 35 paragraphs, describe the role of budgeting in businesses and the costs and benefits associated with it. Further, explain the elements of a behaviorally sound budget culture.

In the chapter "Short-Term Decision Making," you are exposed to several cost concepts. Write a brief summary (35 paragraphs) of how these cost concepts relate to short- and long-term decision making for a company. Include an explanation of the differences between relevant and irrelevant costs by providing an example