Explain what is meant by the time value of money, and discuss its relevance to the capital

Question:

Explain what is meant by the time value of money, and discuss its relevance to the process.

Capital Budgeting
Capital budgeting is a practice or method of analyzing investment decisions in capital expenditure, which is incurred at a point of time but benefits are yielded in future usually after one year or more, and incurred to obtain or improve the...