________ decisions focus on how a company will spend its financial resources on long-term projects that ultimately determine whether the firm successfully creates value for its owners.

Question

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Investment decisions involve the allocation of a company's financial resources towards long-term projects such as the development of new products or the expansion of production facilities. These decisions determine whether a firm creates value over the long-term for its owners by generating returns that exceed the company's cost of capital. Financing decisions, on the other hand, focus on how a company will raise the necessary funds to finance these investments, such as through debt or equity financing. Working capital decisions involve the management of a company's short-term assets and liabilities, such as inventory and accounts payable, while risk management decisions deal with identifying and mitigating various types of risks that a company may face.

________ Decisions Focus on How a Company Will Spend Its