QUESTION $1$

Capital budgeting is typically considered a non$-$core business activity as it is not part of the revenue model or models of most types of firms, or even a part of daily operations. It holds a strategic financial function within a business.

$1\mathrm{.}1$ Distinguish between short term and long term capital budgeting

$[10]$

$1\mathrm{.}2$Explain the importance of Capital Budgeting at a school level

$10$

$1\mathrm{.}3$With relevant example, illustrate the techniques used in capital budgeting

$[30]$