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 independent projects? Check all that apply. Project choices that do not rule out competing project choices Those projects that are best analyzed without considering the time value of money Involve more risk than mutually exclusive projects Those projects that, if accepted, preclude the acceptance of all other competing projects Projects that, whether accepted or rejected, do not affect the cash flows of other projects