1. What is the IRR% rule for stand-alone (independent) projects?

2. What is the IRR% rule for mutually exclusive projects?

3. For short-term projects and small/start-up companies, which investment criteria are most used? (Payback Period rule and Discounted Payback rule).

4. How is Net Working Capital Treatment in the Capital Budgeting process? Can it be both positive and negative cash flows are Year 0 (Time 0) of the project?