Mark each statement about capital budgeting as true or false.

______a. The IRR is less reliable than NPV in choosing between mutually exclusive projects.

______b. The Payback method can be used for cash flows that go on in perpetuity

______c. Scenario analysis is useful in deciding how bad things will be if several bad events occur at the same time

______d. The time value of money is an important consideration in the IRR method