1. TRUE or FALSE) For a capital budgeting project to be acceptable, it must generate POSITIVE Operating Cash Flow (OCF) at some time during the project life cycle. True False 2. TRUE or FALSE) Under MACRS, the asset's salvage value and its economic (useful) life ARE NOT explicitly considered in calculation of the allowable depreciation deduction. True False 3. TRIE or FALSE) Sale of an Asset which has been depreciated for more than its BOOK VALUE will result in a negative cash flow in the Year of Sale because the Asset Sale will increase the Company's tax liability in the year of Sale. True False 4. TRUE or FALSE) The Payback (PB) Period is more widely used than Discounted Payback (DPB); but it is RARELY used as the PRIMARY capital budgeting decision making methodology True False TRIIE or FALSE) An Independent Project is one the acceptance or rejection of which is independent of the acceptance or rejection of other projects. 5. True False