The capital budget for the year is approved by a company's

Question

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The board of directors has the ultimate responsibility for approving a company's capital budget, which outlines the investments the company plans to make in long-term assets such as property, plant, and equipment. The capital budgeting committee may recommend specific projects to the board, but it is the board that ultimately approves the budget. The officers of the company implement the capital budget, while the stockholders have the ultimate authority to elect the board of directors but do not typically make decisions about specific capital investments.

The Capital Budget for the Year Is Approved by a Company's