Question: Estimating project cash flows is generally the most importane, but alwo the most difficult, step in the capital bodgeting process. Methodolegy, such as the use

Estimating project cash flows is generally the most importane, but alwo the most difficult, step in the capital bodgeting process. Methodolegy, such as the use of NPV versus IRR, is important, but less so than obtaining a reasonably accurate extimate of peojectr' cach flows.

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Estimating project cash flows is generally the

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