Briefly Comment on the following:

Briefly Comment on the following:                                                                                    (20 Marks)

a)  Capital budgeting is the process in which a business determines and evaluates                   potential expenses or investments that are large in nature.
b)  Efficient cash management will intend at maximizingthe cash inflows and showing           cash outflows.
c)  Zero NPV project indicates normal profit.
d)  Cap rate reflects current returns on a non-levered basis.