Chapter Summaries
1.1 Understand the importance of finance in your personal and professional lives and identify the three primary business decisions that financial managers make. (pgs. 4–5)
Summary:
Finance is the study of how individuals and businesses allocate money over time. We all face choices that involve spending or receiving money now versus sometime in the future. What you will learn in this book will help you to better understand how to make those choices, both in your personal life and as a financial manager.
The decision-making process of planning and managing a firm’s long-term investments is called capital budgeting. The mix of long-term sources of funds used by a firm to finance its operations is called its capital structure. Working ...
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