16. Inventory is divided into three basic categories except A. Projected sales B. work in process C. Finished goods D. Raw materials 17. The concept of time value of money is important to financial decision making because A. It emphasizes earning a return on invested capital B. It recognizes that earning a return makes $1 today worth more than $1 received in the future It can be applied to future cash flows in order to compare different streams of income All of the above answers are true C. D