The net present value of a project is Select one: O a. the sum of all discounted cash inflows O b. the initial investment divided by the average operating profit O c. the sum of all discounted cash flows O d. an annuity expense, discounted to its future value O e. none of the above A budget that is being used for budgetary control should be Select one: O a. linked to the operating activities over which managers have influence or control O b. short O c. zero-based O d. Kaizan-based O e. none of the above Future cash flows should be discounted at Select one: O a. the interest rate on long-term bonds b. the interest rate on dividends c. the bank's base rate for interest O d. the company's weighted average cost of capital O e. none of the above Long-term capital budgeting decisions are important because Select one: O a. they involve large amounts of money O b. they commit the organization for long periods of time O c they are the way the company pursues its strategy O d. (a) & (b), but not (0) 0 e. (a), (b) & (C) Budgets are a key feature of Select one: O a. scorekeeping O b. planning O c. control o d. all of the above e. (b) & (C), but not (a)