3. The capital budgeting process Capital budgeting involves evaluating the value of long-term assets or projects. Which of the following should be included in the capital budgeting process? Check all that apply. Compute the accounting rate of return. Estimate the future cash flows associated with the project. Compute the present value of the expected cash flows. Estimate sunk costs and add them to the valuation. Include all relevant cash flows. Grade It Now Save & Continue