What is policy making in the context of, Financial Management

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What is policy making in the context of

1. The rational behind the rules for multistep income statemest is to subdivide the statement in a manner that facitlitates

A. Cash flows, B. Forecsting , C. Tax return prep. D. Audits

2. What is policy making in the context of budgets?

3. Your parents are giving you $160 a month for 4 years while you are in college. At a 5 percent discount rate, what are these payments worth to you when you first start college?

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