a. Which of the following statements best describes the effect that an growth (expansion) option can have on a project? When cash flows turn out to be lower than expected, a valuable growth (expansion) option may permit management to take actions that limit losses. When cash flows turn out to be lower than expected a valuable growth (expansion) option may permit management to Ob. take actions that decrease cash flows even more. When cash flows turn out to be higher than expected, a valuable growth (expansion) option may permit management to OC. take actions that limit losses. When cash flows turn out to be higher than expected, a valuable growth (expansion) option may permit management to take actions that increase the project's cash flows even more. Which of the following statements best describes the effect that an abandonment option can have on a project? When cash flows turn out to be higher than expected, a valuable abandonment option may permit management to take actions that limit losses. When cash flows turn out to be higher than expected, a valuable abandonment option may permit management to take actions that increase the project's cash flows even more. When cash flows turn out to be lower than expected, a valuable abandonment option may permit management to take actions that limit losses. When cash flows turn out to be lower than expected, a valuable abandonment option may permit management to take O d. actions that decrease cash flows even more