2. The importance of capital budgeting and post audits Indicate whether each of the following statements is true or false. True False 03 . Statements Investing in capital assets is important to staying competitive. Capital budgeting involves planning and forecasting cash flows, sometimes many years into the future. A post audit involves comparing actual results with forecasted results Post widits are generally a waste of time, because it is nearly impossible for actual results to match forecasted results. Capital projects are either mutually exclusive or independent. Which of the following phrases correctly describe independent projects? Check all that apply. Involve more risk than mutually exclusive projects Those projects that are best analyzed without considering the time value of money By definition, they are not also mutually exdusive projects Project choices that do not rule out competing project choices