In capital budgeting, intangible benefits should be

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Intangible benefits are those that cannot be easily quantified or measured in monetary terms, such as improved employee morale, customer satisfaction, or brand image. It is difficult to estimate the true value of these benefits, and using overly optimistic estimates could lead to overstating the potential benefits of a project. Therefore, including intangible benefits using conservative estimated values is the most appropriate approach in capital budgeting.

In Capital Budgeting, Intangible Benefits Should Be