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Which of the following statements are false? 1. An increase in accounts payable reduces working capital requirements at the beginning of a project. 2. The

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Which of the following statements are false? 1. An increase in accounts payable reduces working capital requirements at the beginning of a project. 2. The market value of land that a company owns that will be used in a project is an example of an opportunity cost. 3. When considering a new project money borrowed from a bank should be included in project cash flows. 4. Pro forma financial statements are always expressed as a percentage of sales

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