14. Your company has a Cost of Capital of 10%. You are presented with the results of a Capital Investment Appraisal of FOUR different projects (see below). Which project should be accepted? Payback Period (PP) Accounting Rate of Return (ARR) Net Present 60,000 Project Alpha Project Beta 2 years 3 years 12% 11% Value (NPV) Internal Rate 11% of Return (IRR) A) Project Delta B) Project Gamma C) Project Beta D) Project Alpha 20,000 10% Project Gamma 4 years 11% 10,000 8% Project Delta 2.5 years 13% (20,000) 14% 15. What is the reasoning behind charging depreciation in financial accounting? A) To ensure funds are available for the eventual replacement of the asset. B) To comply with the consistency concept. C) To match the cost of the non-current assets to the revenue that the asset generates D) To ensure that the asset is included in the Statement of Financial Position (Balance Sheet) at the lower of cost and net realisable value