1. Describe the cash budget and its three parts. How does a budget deficit differ from a budget surplus? 2. Why is it important to analyze budget variances and their implied surpluses or deficits at...

1. Describe the cash budget and its three parts. How does a budget deficit differ from a budget surplus?

2. Why is it important to analyze budget variances and their implied surpluses or deficits at the end of each month?

3. Why is it important to use time value of money concepts in setting personal financial goals?