Question: 1. Why is capital budgeting such an important process? Why are capital budgeting errors so costly? Explain. 2. What are the disadvantages of using the

1. Why is capital budgeting such an important process? Why are capital budgeting errors so costly? Explain.
2. What are the disadvantages of using the payback method as a capital budgeting technique? What are the advantages? Why is it used so frequently?

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