The importance of capital budgeting and post-audits Capital budgeting decisions are among the most important decisions that financial managers make. In the table below, indicate whether each statement about capital budgeting is true or false. Capital projects are either mutually exclusive or independent. Which of the following phrases correctly describe mutually exclusive projects? Check all that apply. Those projects that, if rejected, preclude the acceptance of all other competing projects that, whether accepted or rejected, do not affect the cash flows of other projects Those projects that are best analyzed without considering the time value of money Those projects that, if accepted, preclude the acceptance of all other competing projects By definition, they are not also independent projects