To make sound capital budgeting decisions, the principal focus should be on: after-tax cash flows and the timing of these cash flows.
A statement of cash flows is also referred to as cash flow statement and it can be defined as a financial statement which illustrate how changes in income and various account of the balance sheet affect cash and other cash equivalents.
As a general rule in business management, the principal focus should be on after-tax cash flows and the timing of these cash flows into a business, so as to make sound capital budgeting decisions.
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