2. The importance of capital budgeting and post-audits Indicate whether each of the following stateme tements is true or false True False Statements Investing in capital assets is important to staying competitive. Capital expenditures are long term and expensive A post audit is an important step in the capital budgeting process. Ideas for capital investment should come from the engineering and sales departments rather than from the France departments 0 o o O Capital projects are either mutually exclusive or independent. Which of the following statements are correct? Check all that apply Acceptance or rejection of an independent project does not affect the cash flows of other projects Acceptance of a mutually exdesive project precludes the acceptance of any competing project A project cannot be independent and mutually exclusive at the same time The decision to accept or reject a project may depend on whether the project is independent or muitby exclusive