1st blank: exactly where they occur, on an annual basis, on a monthly basis

2nd blank: a replacement, an expansion

3rd blank: not relevant, relevant

1. Concepts used in cash flow estimation Aa Aa Capital budgeting analysis not only requires the evaluation of cash flows but also requires the understanding of the origin of those cash flows. Based on your understanding of cash flows in a firm, complete and answer the following questions: Which of the following is a reason cash flows may differ from accounting income? O The total number of units sold will be different for accounting income and cash flows. O Depreciation is a tax-deductible expense but is not a cash outay Ideally, capital budgeting anplysis should take cash flows into account Understanding the nature of projects Capital budgeting analysis often involvas decisions releted to expansion projects and/or replacement projects. Based on your understanding of axpansion and roplacement projects, complete the fallowing: If a clothing store opens a socond retail location on the other side of toien, this project would be considered project What are sunk costs? Sunk costs are in the capital budgeting analysis