The importance of capital budgeting and post-audits Capital budgeting decisions are among the most important decisions that financial managers make. Indicate whether each of the following statements 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.? Projects that, whether accepted or rejected, do not affect the cash flows of other projects ? By definition, they are not also independent projects ? Those projects that, if rejected, preclude the acceptance of all other competing projects ? Project choices that rule out competing project choices Those projects that, if accepted, preclude the acceptance of all other competing projects