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1. Capital budgeting has three phases: (1) identification of potential investments, (b) selection of investments, and (c) post-audit of investments. What is the accountants role

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1. Capital budgeting has three phases: (1) identification of potential investments, (b) selection of investments, and (c) post-audit of investments. What is the accountants role in each phase? Also, please explain how the net present value is used to determine whether a project should be accepted or rejected. (20 marks) 2. *The net present value should not be used for investment decisions about advanced technology, such as computer-integrated manufacturing system. Do you agree? Explain. (10 marks)

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