Differentiate between the members of each of the following pairs of capital budgeting terms: (a) Independent versus

Question:

Differentiate between the members of each of the following pairs of terms:
(a) Independent versus mutually exclusive projects;
(b) Unlimited funds versus capital rationing;
(c) Accept—reject versus ranking approaches; and
(d) Conventional versus nonconventional cash flow patterns.

Capital Budgeting
Capital budgeting is a practice or method of analyzing investment decisions in capital expenditure, which is incurred at a point of time but benefits are yielded in future usually after one year or more, and incurred to obtain or improve the...