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1、CHAPTER12—CAPITALBUDGETING:DECISIONRULES1.?Afirmshouldneveracceptaprojectifitsacceptancewouldleadtoanincreaseinthefirm'scostofcapital(itsWACC).?a.?True?b.?FalseANSWER:??FalsePOINTS:??1DIFFICULTY:??Difficulty:EasyLEARNING?OBJECTIVES:??INTE.GENE.16.78-LO:12-1NATIONAL?STANDARDS:??UnitedStates-BUSPROG:

2、ReflectiveThinkingSTATE?STANDARDS:??UnitedStates-AK-DISC:Capitalbudgetingandcost-DISC:CapitalbudgetingandcostofcapitalLOCAL?STANDARDS:??UnitedStates-OH-DefaultCity-TBATOPICS:??CapitalbudgetKEYWORDS:??Bloom’s:Knowledge2.?Because"presentvalue"referstothevalueofcashflowsthatoccuratdifferentpointsintim

3、e,aseriesofpresentvaluesofcashflowsshouldnotbesummedtodeterminethevalueofacapitalbudgetingproject.?a.?True?b.?FalseANSWER:??FalsePOINTS:??1DIFFICULTY:??Difficulty:EasyLEARNING?OBJECTIVES:??INTE.GENE.16.79-LO:12-3NATIONAL?STANDARDS:??UnitedStates-BUSPROG:ReflectiveThinkingSTATE?STANDARDS:??UnitedSta

4、tes-AK-DISC:Capitalbudgetingandcost-DISC:CapitalbudgetingandcostofcapitalLOCAL?STANDARDS:??UnitedStates-OH-DefaultCity-TBATOPICS:??PVofcashflowsKEYWORDS:??Bloom’s:Knowledge3.?AssumingthattheirNPVsbasedonthefirm'scostofcapitalareequal,theNPVofaprojectwhosecashflowsaccruerelativelyrapidlywillbemorese

5、nsitivetochangesinthediscountratethantheNPVofaprojectwhosecashflowscomeinlaterinitslife.?a.?True?b.?FalseANSWER:??FalsePOINTS:??1DIFFICULTY:??Difficulty:EasyLEARNING?OBJECTIVES:??INTE.GENE.16.79-LO:12-3NATIONAL?STANDARDS:??UnitedStates-BUSPROG:ReflectiveThinkingSTATE?STANDARDS:??UnitedStates-AK-DIS

6、C:Capitalbudgetingandcost-DISC:CapitalbudgetingandcostofcapitalLOCAL?STANDARDS:??UnitedStates-OH-DefaultCity-TBATOPICS:??NPVKEYWORDS:??Bloom’s:KnowledgeCengageLearningTesting,PoweredbyCogneroPage?61CHAPTER12—CAPITALBUDGETING:DECISIONRULES4.?Abasicruleincapitalbudgetingisthatifaproject'sNPVexceedsit

7、sIRR,thentheprojectshouldbeaccepted.?a.?True?b.?FalseANSWER:??FalsePOINTS:??1DIFFICULTY:??Difficulty:EasyLEARNING?OBJECTIVES:??INTE.GENE.16.79-LO:12-3NATIONAL?STANDARDS:??UnitedStates-BUSPROG:ReflectiveThin