19. The present value (PV) of cash flows from a project is sufficient to determine if the project creates value for a business.

True/False

20. A share buyback could be interpreted as a reflection of management's view that the market price of the firm's shares is lower than their true value, and thus would lead to a fall in the share price.

True/False

21. From a finance perspective, conglomerates are problematic, because the purported diversification benefits that create value for their shareholders is likely to be illusory considering that shareholders can diversify on their own and do not need the company to do it for them.

True/False

22. The issue of equity often causes a company's stock price to decrease because of signaling.

True/False

23. Management should prioritize payment of dividends because that would create value for shareholders.

True/False