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Estimating project cash flows is generally the most important, but also the most difficult, step in the capital budgeting process. Methodology, such as the use

Estimating project cash flows is generally the most important, but also the most difficult, step in the capital budgeting process. Methodology, such as the use of NPV versus IRR, is important, but less so than obtaining a reasonably accurate estimate of projects' cash flows. Select one: True False

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