2. The importance of capital budgeting and post-audits Capital budgeting decisions are among the most important decisions that financial managers make. Indicate whether each of the following statements regarding capital budgeting is true or false. True False Statements A post-audit involves comparing actual results with forecasted results. Effective capital budgeting improves the timing and quality of the assets purchased. Capital budgeting is about forecasting the need for cash and other short-term assets. Capital expenditures are long term and expensive. olololo Capital projects are either mutually exclusive or independent. Which of the following phrases correctly describe independent projects? Check all than apply. By definition, they are not also mutually exclusive projects Those projects that, if accepted, preclude the acceptance of all other competing projects Projects that, whether accepted or rejected, do not affect the cash flows of other projects Project choices that do not rule out competing project choices Those projects that are best analyzed without considering the time value of money