Compare the information pertaining to Master Budgets to yourpersonal budget (you do not need to provide actual number!) If youwere to use your personal budget as business managers use theMaster Budget, you would probably find some areas where you couldsave money, or make a change so that you will have more money inthe future. Provide an example of investing in something that willhopefully realize future profits (incorporating alternative energysources as you build your new home; buying a hybrid vehicle foryour next car; switching to a “whole food” diet rather than buyingpre-packaged foods). Give enough information in your example. Howdid the example illustrate the time value of money concept? How wasthe Net Present Value concept illustrated? How was the paybackperiod determined?
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