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 Statements True False @ Capital budgeting involves planning and forecasting cash flown, nometimes many years into the future. A post-audit is sometimes overlooked and dismissed as being of little value Effective capital budgeting improves the timing and quality of the assets purchased Ideas for capital investment should come from the engineering and sales departments rather than from the finance department. Capital projects are either mutually exclusive or independent. Which of the following statements are correct? Check all that apply The decision to accept ce reject a project may depend on whether the project is independent or mutually exclusive Mutually exclusive projects are projects that, whether accepted or rejected, do not affect the cash flows of other projects, Acceptance of a mutualy exclusive project precludes the acceptance of any competing project Independent projects are those projects that, if accepted, predude the comptance of all other competing projects A project cannot be independent and mutually exclusive at the same time